Question: The sample statistics from each simulation were as follows: a) According to the Central Limit Theorem, what should the theoretical mean and standard deviations be

The sample statistics from each simulation were as follows: mean st. dev. 20 0.0497 0.0497 0.0479 50 0.0516 0.0309 100 0.0497

a) According to the Central Limit Theorem, what should the theoretical mean and standard deviations be for these sample sizes?

b) How close are those theoretical values to what was observed in these simulations?

c) Looking at the histograms in Exercise 1, at what sample size would you be comfortable using the Normal model as an approximation for the sampling distribution?

d) What does the Success/Failure Condition say about the choice you made in part c?

mean st. dev. 20 0.0497 0.0497 0.0479 50 0.0516 0.0309 100 0.0497 0.0215 200 0.0501 0.0152

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