SESSION:7 The Central Limit Theorem
Key Terms

Session:7 The Central Limit Theorem Key Terms Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics Average a number that describes the central tendency of the data; there are a number of specialized averages, including the arithmetic mean, […]

SESSION:7 The Central Limit Theorem
7.4 Finite Population Correction Factor

Session:7 The Central Limit Theorem 7.4 Finite Population Correction Factor Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics We saw that the sample size has an important effect on the variance and thus the standard deviation of […]

SESSION:7 The Central Limit Theorem
7.3 The Central Limit Theorem for Proportions

Session:7 The Central Limit Theorem 7.3 The Central Limit Theorem for Proportions Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics The Central Limit Theorem tells us that the point estimate for the sample mean, x¯ �¯, comes from […]

SESSION:7 The Central Limit Theorem
7.2 Using the Central Limit Theorem

Session:7 The Central Limit Theorem 7.2 Using the Central Limit Theorem Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics Examples of the Central Limit Theorem Law of Large Numbers The law of large numbers says that if you take […]

SESSION:7 The Central Limit Theorem
7.1 The Central Limit Theorem for Sample Means

Session:7 The Central Limit Theorem 7.1 The Central Limit Theorem for Sample Means Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics The sampling distribution is a theoretical distribution. It is created by taking many samples of size […]

SESSION:6 The Normal Distribution
Solutions

Session:6 The Normal Distribution Solutions Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics 1. ounces of water in a bottle 3. 2 5. –4 7. –2 9.  The mean becomes zero. 11. z = 2 13. z = 2.78 […]

SESSION:6 The Normal Distribution
References

Session:6 The Normal Distribution References Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics 6.1 The Standard Normal Distribution “Blood Pressure of Males and Females.” StatCruch, 2013. Available online at http://www.statcrunch.com/5.0/viewreport.php?reportid=11960 (accessed May 14, 2013). “The Use of Epidemiological […]

SESSION:6 The Normal Distribution
Homework

Session:6 The Normal Distribution Homework Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics 6.1 The Standard Normal Distribution Use the following information to answer the next two exercises: The patient recovery time from a particular surgical procedure is normally […]

SESSION:6 The Normal Distribution
Practice

Session:6 The Normal Distribution Practice Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics 6.1 The Standard Normal Distribution 1. A bottle of water contains 12.05 fluid ounces with a standard deviation of 0.01 ounces. Define the random variable X in […]

SESSION:6 The Normal Distribution
Formula Review

Session:6 The Normal Distribution Formula Review Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics Introduction X ∼ N(μ, σ) μ = the mean; σ = the standard deviation 6.1 The Standard Normal Distribution Z ~ N(0, 1) z = a standardized value (z-score) mean = 0; standard […]