We have previously discussed the importance of estimating uncertainty in our measurements and incorporating it into data analysis 1. To know the extent to which we can generalize our observations, we ...

Example 1: The population from which samples are selected is {1,2,3,4,5,6}. This population has a mean of 3.5 and a standard deviation of 1.70783. The next display shows a histogram of the population.

The central limit theorem (CLT) establishes that (under certain conditions) the properly normalized sum of independent random variables tends toward a normal distribution even if the original ...

Julie Young is an experienced financial writer and editor. She specializes in financial analysis in capital planning and investment management. Dr. JeFreda R. Brown is a financial consultant, ...