Day 09: Statistics for Business Applications

Last Time: Began Section 9.1-9.2:
- The larger the sample size, the closer to the true mean is the sample mean (hence, the smaller the spread of the distribution of sample means).
- Applets for section 9.2 - even skewed distributions can give rise to normally distributed sample means
- The central limit theorem
- Some examples
Today:
- Return homework for section 8.3
  - Don't abuse the equal sign!
  - Use complete sentences!
- Important Notes:
  - our first test is Thursday! It will cover only through chapter 8 - nothing from 9 will appear.
  - I was considering giving a take-home component to the test (Handout) - but I will not, due to weather conditions (since some students may not be in today). You might look at the assignment, however, as there will be a similar problem on the test.
    The data can be obtained here as a minitab file, or as a txt file.
- A simulation to demonstrate the central limit theorem for the sampling distribution of the mean
- Chapter 9: section 9.3 - sampling distribution of a proportion
  - The sampling distribution of a proportion
  - Some examples
Next time: Test 1!

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