MAS 311 Study Guide - Final Guide: Central Limit Theorem, Interval Estimation, Confidence Interval

• School: University of Miami
• Department: Management Science
• Course: MAS 311
• Professor: Donno

Document Summary

When the number of trials, n, becomes large, evaluating the binomial probability function by hand or with a calculator is difficult. The normal probability distribution provides an easy-to- use approximation of binomial probabilities where np > 5 and n(1 - p) > 5. If independent samples of size ___ and ___ are drawn at random from two populations, discrete or continuous, with means ___and ___, and variances _______ and. _______, respectively, then the sampling distribution of the difference of means, _____- ______, is approximately normally distributed with mean and variance given by. In the definition of the normal curve, set. A property of the exponential distribution is that the mean and standard deviation are equal. Interval estimate of a population mean: __ known. In selecting random samples of size n from a population, the sampling distribution of the sample mean ___ can be approximated by a normal distribution as the sample size becomes large.