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What sample size is recommended in order to meet the assumption of a normal distribution even when the population of interest is not normal.?
Wiki User
∙ 11y ago
The ideal sample size depends on a number of factors:
- how far from Normal the underlying distribution is.
- how close you need to get to a Normal distribution - in terms of the decision(s) that might be based on it and the cost of making an error.
- the rarity of the characteristic that you wish to study. (You might need a large sample just to ensure that you get representatives that have whatever characteristic you are studying.)
Wiki User
∙ 11y ago
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When doing a t-test what does normal distributed in population mean?
It means that the random variable of interest is Normally distributed and so the t-distribution is an appropriate distribution for the test rather than just an approximation.
What is the population of interest in statistics?
It is the population which you are studying.
What is population interest?
The population of interest is the population you are trying to draw an inference about from the collected data sets. For example if you are interested in the average height of a college student on the east coast then the population of interest would be all college students on the east coast. If you are trying to find out the compressive strength of a certain concrete mixture then the population of interest is all types of concrete of this type.
How much will Pauline pay in interest if she takes out a simple interest loan with a principal of 3900.00 at 7 2 percent for 3 years?
Assumption: "7 2" is actually 7.2 Simple interest is simple. All you do is multiply the principal by the rate to get the yearly amount of interest. Therefore, 3900 times 7.2 is the same as $3900 x 0.072 = $280.80 per year interest. Since its over 3 years, just multiply by 3. Therefore, you get $280.80 x 3 = $842.40 in interest.
What is the shape of the binomial probability distribution in rolling a die?
The distribution depends on what the variable is. If the key outcome is the number on the top of the die, the distribution in multinomial (6-valued), not binomial. If the key outcome is the number of primes, composite or neither, the distribution is trinomial. If the key outcome is the number of sixes, the distribution is binomial with unequal probabilities of success and failure. If the key outcome is odd or even the distribution is binomial with equal probabilities for the two outcomes. Thus, depending on the outcome of interest the distribution may or may not be binomial and, even when it is binomial, it can have different parameters and therefore different shapes.
What does it mean for a population to be normally distributed?
A Gaussian distribution is the "official" term for the Normal distribution. This is a probability density function, of the exponential family, defined by the two parameters, its mean and variance. A population is said to be normally distributed if the values that a variable of interest can take have a normal or Gaussian distribution within that population.
A basic assumption of economics is?
A rational self-interest.
When doing a t-test what does normal distributed in population mean?
It means that the random variable of interest is Normally distributed and so the t-distribution is an appropriate distribution for the test rather than just an approximation.
What is the theoretical probaility of have a R in your name?
The answer depends on the distribution of names and - depending on the question - surnames across the population of interest. There will be variations between different cultures.
What is Shared Interest's population?
Shared Interest's population is 28.
What is the definition of reinvestment assumption?
The definition of reinvestment assumption is an assumption made concerning the rate of return that can be earned on the cash flows generated by capital budgeting projects. The cash flow can be interest, earnings, dividends, or rent.
How to treat interest on capital while preparing balance sheet?
Interest on capital is added on the capital account in balance sheet as interest incurred from capital is based on business entity assumption.
What is the population of interest in statistics?
It is the population which you are studying.
What is the difference between interest and a dividend?
Interest is a payment on debt (such as bonds or bank notes). A dividend is a distribution of earnings to the owners of a firm.
What is population interest?
The population of interest is the population you are trying to draw an inference about from the collected data sets. For example if you are interested in the average height of a college student on the east coast then the population of interest would be all college students on the east coast. If you are trying to find out the compressive strength of a certain concrete mixture then the population of interest is all types of concrete of this type.
Why is not recommended that consumers acquire debts?
Debts must be repaid with interest.
Why is it NOT recommended that consumers acquire debts?
Debts must be repaid with interest.
