It is said that the Central Limit Theorem is the most important theorem in all of...

It is said that the Central Limit Theorem is the most important theorem in all of Statistics. In your own words, describe why it is so important.

Expert Solution

Central limit theorem:

Let X1,X2...Xn be the random sample with and > o . Then the probability distribution of

or for large n

Importance:

When we have large sample with mean and standard deviation, but known probability distribution. Then for large sample size ,we can use central limit theorem as approximation. Once we know the the probability distribution then its easy to analyse data.Therefore it is mostly used for large sample,

orchestra answered 2 years ago

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