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Unformatted text preview: Section 8.1 – Sampling Distributions and Estimators Sampling Distribution of a Statistic – A probability distribution for all possible values of the statistic computed from a sample of size n . Sampling Distribution of the Sample Mean – A probability distribution for all possible values of the sample mean computed from a sample of size n from a population with mean µ and standard deviation σ . We will perform our sampling with replacement , because this will result in independent events. The value of a statistic depends on the particular values included in the sample, and it generally varies from sample to sample, so we call this Sampling Variability . Example : The assets (in billions of dollars) of the three wealthiest people in the US are: 59 (Bill Gates), 39 (Warren Buffet), and 33 (Larry Ellison). Assume that samples of size 2 are randomly selected with replacement from this population of three values....
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 Spring '12
 LisaJuliano
 Normal Distribution, Probability, Standard Deviation

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