Excel Statistical Analysis - Learn Central Limit Theorem by Building Sampling Distribution of Xbar

) Introduction.
) Building a Sampling Distribution of Sample Means (Xbar).
) XLOOKUP to lookup all values for all possible samples..
) Proving that Mean of Sampling Distribution of Sample Means (Xbar) is equal to Population Mean.
) Build Frequency Distribution & Histograms using worksheet formulas. See SEQUENCE and COUNTIFS functions to discover that the pattern for the Sampling Distribution of Sample Means (Xbar) is Normal, or Bell shaped.
) Sampling Distribution of Sample Means (Xbar) has less spread than Population Data.
) Central Limit Theorem and its use to make decisions.
) Learning how the Standard Deviation (Standard Error) Formula is created from Sampling Distribution of Sample Means (Xbar).
) Standard Error Formula.
) Correction Factor for Standard Error.
) Relationship between Sample Size, Standard Error and the probability associated with a given interval with a lower and upper value.
) Sampling Distribution, Normal Bell Distribution Model and the Central Limit Theorem to make business decisions.
) First mention of t distribution.
) Check reasonableness of a claim with two statistical methods: Hypothesis Testing and Confidence Intervals.
) Hypothesis Testing to assess whether a claim is reasonable: Insurance Policy Price example. See Excel functions: NORM.S.DIST, NORM.S.INV.
) Confidence Intervals to assess whether a claim is reasonable: Insurance Policy Price example.
) Confidence Intervals to estimate a range of values for a population mean: Computer Printer Cartridge example.
) t Distribution example. See the Excel function: T.INV.
) Assessing reasonableness of Manufacture sample. See Excel functions: NORM.DIST and NORM.S.DIST to calculate p-value.
) Summary of video.
) Closing, Next Video and Video Links.