Law of large numbers
The larget the sample size (n) in a specific sample, the more probable that M is close to mu (larger sample, smaller standard deviation)
Standard error of the mean
(OM)
Distribution of sample means
the set of sample means for all possible random samples of a specific size (n) that can be selected from a population
-This distribution is has well-defined and predictable characteristics that are specified in the Central Limit Theorem
Central Limit theorem
When is the distribution of sample means guaranteed to be almost perfectly normal?
When n is greater than 30, the shape of the distribution is almost normal regardless of the shape of the original population
Z-Test for distribution of sample means
What is the standard error of M?
The standard deviation of the distribution of sample means
Sampling error
The natural discrepancy, or amount of error, between a sample statistic and its’ corresponding population parameter
Distribution of Sample Means
Sampling distribution
A distribution of statistics obtained by selecting all the possible samples of a specific size from a population
Characteristics of Distribution of Sampling Means
Central Limit Theorem (Textbook)
The expected value of M
The Standard Error of M
The standard deviation for the distribution of sample means
1. Describes the distribution of sample means; provides a measure of how muchdifference is expected from one sample to another
2. Measures how well an individual sample mean represents the entire distribution
decreases when sample size increases (law of large #s)
When n=1 Om=O… whenever u are working w a sample mean u must use standard error