Question: Explain the relation between error margin, confidence level, confidence interval and error term. Explain their interdependency using graph. Explain why standard deviation of population distribution

  1. Explain the relation between error margin, confidence level, confidence interval and error term. Explain their interdependency using graph.
  2. Explain why standard deviation of population distribution is greater than the standard distribution of sample distribution.
  3. Explain central limit theorem for mean and proportion. Why do we use it?

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