The central limit theorem states that when many independent random variables are summed, the result follows a
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The central limit theorem states that when many independent random variables are summed, the result follows a normal distribution even if the individual random variables in the sum do not. To illustrate this idea, simulate 500 samples of size 15 from the uniform (0,1) distribution (generated with the RAND function). Are the 500 sums (where each is a sum of 15 values) normally distributed? Show by constructing a histogram and also by checking the rules of thumb.
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Related Book For
Managerial Statistics
ISBN: 9780534389314
1st Edition
Authors: S. Christian Albright, Wayne L. Winston, Christopher Zappe
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