According to the Central Limit Theorem,the Distribution of the Sample

question 66

Multiple Choice

According to the central limit theorem,the distribution of the sample means is normal if _______________.

• A)The underlying population is normal
• B)The sample size
• C)If the standard deviation of the population is known
• D)Both A and B are correct

---

Definitions:

Weak Axiom

A concept in consumer theory that assumes if a consumer prefers a bundle A over bundle B when prices are unchanged, they will not prefer B over A if the price of A decreases and B remains the same or increases.

Revealed Preference

An economic theory that assumes consumers' preferences can be revealed by their purchasing habits.

Prices

The sum of money needed to buy a product, service, or property.

Violates WARP

Refers to an inconsistency in choice behavior that contradicts the Weak Axiom of Revealed Preference, indicating a possible preference reversal.