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1) Fully define and discuss the properties of the sampling distribution of the mean (1 pt)....

1) Fully define and discuss the properties of the sampling distribution of the mean (1 pt).

2) What does the central limit theorem tell us? Why does it work (an intuitive example was discussed in class) (2pt).

3) What are the conditions/assumptions necessary to run a Z-test? (1 pt.)
4) Consider randomly sampling from a theoretical normal distribution. (1 pt. each).

a. What is the probability that a single randomly sampled observation have a value above the mean?
b. What is the probability that observations from a random sample size of n=2 will both have values above the mean?
c. What is the probability that observations from a random sample size of n=4 will all have values above the mean?
d. What is the probability that observations from a sample size of n=8 will all have values above the mean?

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