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

question 26

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 n ≥ 30
• C) the standard deviation of the population is known
• D) both the underlying population is normal and the sample size n ≥ 30 are correct

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Definitions:

Tax Burden

The overall impact of taxes on an individual's, corporation's, or economy's financial performance and well-being.

Tax Imposed

A financial charge or levy instituted by governmental authorities on individuals, transactions, or properties to generate revenue.

Buyer Bears

This concept refers to the condition in which the purchaser is responsible for any additional expenses that arise after a purchase agreement, such as repair or maintenance costs.

Price Wedge

The difference between the price paid by buyers and the price received by sellers, often resulting from taxes, subsidies, or other interventions in the market.