Lecture 7.docx - Lecture 7 sampling and standard error...

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Lecture 7- sampling and standard error Samples and sample means differ from each other The distribution of sample means is the collection of sample means for all possible random samples of a particular size (n) that can be obtained from a population Sampling distribution (of sample M) is the distribution of statistics calculated from all possible samples of a particular size (n) that can be obtained from the population We calculate the mean from every possible sample to estimate the population mean Sample means pile up around the population mean Distribution of sample means is approx. normal in shape The distribution of sample means can be used to estimate probabilities Determining the distribution of sample M Central limit theorem - Applies to any population with mean and std dev. - Distribution of sample means approaches a normal distribution as n approaches infinity - Distribution of sample means for samples of size n will have a mean of µ M -
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