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Lecture 14

# ECON 2209 Lecture 14: 24February_EconStats_Karagodsky Premium

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School
Department
Economics
Course
ECON 2209
Professor
Karagodsky
Semester
Fall

Description
EconStatistics February 24 2017 Topics Distribution of sample mean Central Limit Theorem 1 Distribution of Sample Mean The area under a distribution curve tells us the probability of people that will be ____. We can make something similar with a average of a group of samples of a certain size. Our data points are just sample averages, so we have: 1;2;3 ;:::nx where: i= x1;x2;x3;:::nx and n 1 X = xi n i=1 1.1 Expected value and variance Expected value of a sample mean is dened as: Xn E[] = E[ x ] n i i=1 1Xn = n i=1 1 = n n = 1
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