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      • The sample mean x is a random variable: it varies from sample to sample in a way that cannot be predicted with certainty. We will write ˉX when the sample mean is thought of as a random variable, and write x for the values that it takes. The random variable ˉX has a mean, denoted μˉX, and a standard deviation, denoted σˉX.
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  2. Mar 26, 2023 · The sample mean is a random variable; as such it is written \(\bar{X}\), and \(\bar{x}\) stands for individual values it takes. As a random variable the sample mean has a probability distribution, a mean \(μ_{\bar{X}}\), and a standard deviation \(σ_{\bar{X}}\).

  3. Let \(X_1,X_2,\ldots, X_n\) be a random sample of size \(n\) from a distribution (population) with mean \(\mu\) and variance \(\sigma^2\). What is the mean, that is, the expected value, of the sample mean \(\bar{X}\)?

    • Mean Or Expected Value: μ
    • Variance: var
    • Standard Deviation: Σ

    When we know the probability p of every value xwe can calculate the Expected Value (Mean) of X: Note: Σ is Sigma Notation, and means to sum up. To calculate the Expected Value: 1. multiply each value by its probability 2. sum them up Note: this is a weighted mean: values with higher probability have higher contribution to the mean.

    The Variance is: To calculate the Variance: 1. square each value and multiply by its probability 2. sum them up and we get Σx2p 3. then subtract the square of the Expected Value μ2

    The Standard Deviation is the square root of the Variance: Let's have another example! (Note that we run the table downwards instead of along this time.) Let's try that again, but with a much higher probability for $50,000:

  4. The sampling distribution of the sample mean can be thought of as "For a sample of size n, the sample mean will behave according to this distribution." Any random draw from that sampling distribution would be interpreted as the mean of a sample of n observations from the original population.

    • 11 min
    • Sal Khan
  5. The sample mean x−− is a random variable: it varies from sample to sample in a way that cannot be predicted with certainty. We will write X−− when the sample mean is thought of as a random variable, and write x−− for the values that it takes. The random variable X−− has a mean, denoted μX−−, and a standard deviation, denoted σX−−.

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