Which of the Following Correctly Describes the Central Limit Theorem

question 141

Multiple Choice

Which of the following correctly describes the central limit theorem with respect to ?

• A) Ifis the mean of a simple random sample taken from a large population and if the N population values are not normally distributed, the sampling distribution ofnevertheless approaches a normal distribution as sample size, n increases.
• B) Ifis the mean of a simple random sample taken from a large population and if the N population values are not normally distributed, the sampling distribution ofnevertheless approaches a normal distribution when n30 and also n < .05 N, because these values make the approximation near-perfect.
• C) Ifis the mean of a simple random sample taken from a large population and if the N population values are normally distributed, the sampling distribution ofis also normally distributed, regardless of sample size, n.
• D) Ifis the mean of a simple random sample taken from a large population and if the N population values are not normally distributed, the sampling distribution ofnevertheless approaches a normal distribution as sample size, n increases and Ifis the mean of a simple random sample taken from a large population and if the N population values are not normally distributed, the sampling distribution ofnevertheless approaches a normal distribution when n30 and also n < .05 N, because these values make the approximation near-perfect.
• E) Ifis the mean of a simple random sample taken from a large population and if the N population values are not normally distributed, the sampling distribution ofnevertheless approaches a normal distribution when n30 and also n < .05 N, because these values make the approximation near-perfect and Ifis the mean of a simple random sample taken from a large population and if the N population values are normally distributed, the sampling distribution ofis also normally distributed, regardless of sample size, n.

Differentiate between parameters and statistics in descriptive statistics.

Calculate and interpret the proportion of data within a specific range using the mean and standard deviation.

Recognize the importance of measures of variability (standard deviation, variance) and center (mean, median, mode) in summarizing data sets.

Apply the Empirical Rule and Tchebysheff's Theorem to both theoretical and practical scenarios.

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.

Budgeted Sales

Predicted sales revenue for a future period, based on historical data, market analysis, and other forecasting methods.

Cash Collected

The total amount of money received by a company or individual during a specific period, typically from sales, services, or other transactions.

Selling Expense

Costs incurred to sell products, including advertising, sales commissions, and the expenses of the sales staff.