Question

What is sampling distribution? What is Central Limit Theorem? What can we gain from this type of statistical information?

Answer 1

We know that,

Sampling distribution is the probability distribution of a given random-sample-based statistic.

The central limit theorem is theorem which states that if you have a population with mean μ and standard deviation σ and take sufficiently large random samples from the population with replacement , then the distribution of the sample means will be approximately normally distributed.

Now,

From using this type of statistical information, We can make inference about whole population knowingly the distribution of statistic of given sample data.

Thank you.