Central Limit Theorem: A sampling distribution of the mean is approximately normally distributed if the sample size is sufficiently large. This is true no matter what the population distribution is.

Confidence intervals are computed from a random sample and therefore they are also random. The long run behavior of a 95% confidence interval is such that we’d expect 95% of the confidence intervals ...

Ali Hussain has a background that consists of a career in finance with large financial institutions and in journalism covering business. Vikki Velasquez is a researcher and writer who has managed, ...

The Central Limit Theorem is a statistical concept applied to large data distributions. It says that as you randomly sample data from a distribution, the means and standard deviations of the samples ...

The acceptance sampling plan (ASP) is a statistical tool used in industry for quality control to determine the quality of products by selecting a specified number for testing in order to accept or ...