Question: (a) Explain what the Central Limit Theorem is. As part of your explanation include a sketch which illustrates the concept. [6 MARKS] (b) Explain what

(a) Explain what the Central Limit Theorem is. As part of your explanation include a sketch which illustrates the concept. [6 MARKS] (b) Explain what the Law of Large Numbers is. As part of your explanation include a sketch which illustrates the concept. [6 MARKS] (c) Why might the size of the sample you are using to estimate your regression be important to consider if you are concerned that the residuals of your model are not normally distributed? [10 MARKS] (d) How might you be able to detect whether the errors from a regression are not normally distributed? [3 MARKS]

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