STATISTICAL TECHNIQUES AND TOOLS
CONCEPT OF POINT AND INTERVAL ESTIMATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False, it’s small
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Either A or B
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None of the above
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Detailed explanation-1: -Explanation: Normal curve is always symmetric about mean, for standard normal curve or variate mean = 0. Explanation: If the mean and standard deviation of a normal variate are 0 and 1 respectively, it is called as standard normal variate.
Detailed explanation-2: -Key Takeaways. The central limit theorem (CLT) states that the distribution of sample means approximates a normal distribution as the sample size gets larger, regardless of the population’s distribution. Sample sizes equal to or greater than 30 are often considered sufficient for the CLT to hold.
Detailed explanation-3: -The normal distribution is a symmetrical, bell-shaped distribution in which the mean, median and mode are all equal. It is a central component of inferential statistics. The standard normal distribution is a normal distribution represented in z scores. It always has a mean of zero and a standard deviation of one.