In developing Procedure 8.1, we assumed that the variable under consideration is normally distributed. a. Explain why

Question:

In developing Procedure 8.1, we assumed that the variable under consideration is normally distributed.
a. Explain why we needed that assumption.
b. Explain why the procedure yields an approximately correct confidence interval for large samples, regardless of the of the variable under consideration.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...