Variability of sample mean is less individual observations

Reference no: EM13152899

In this case, the Central Limit Theorem states that the sample mean from a simple random sample from a large population should have an approximate Normal distribution with the se(Y ) = n . The se of Y measures the variability of Y around the true population mean when different samples of the same size are taken. Note that the variability of the sample mean is LESS than that of individual observations Does this makes sense?

Reference no: EM13152899

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