A common objective in applying a statistical test is to compare the mean (average) of one sampled group with some hypothesized mean or the mean of a population. For example, you might want to compare ...

The law of large numbers is related to the central limit theorem in statistical analysis. The central limit theorem states that the sample mean will be evenly distributed as the sample size increases.

Learn how two-tailed tests determine statistical significance in hypothesis testing by evaluating if a sample differs from a population mean. Discover real-world applications.

Exact finite sample mean and variance formulas for one of the two statistics are derived in the continuous case. It appears that the asymptotic standardized percentiles serve well as approximate ...

In industry, one sometimes compares a sample mean and minimum, or a mean and maximum, to reference values to determine whether a lot should be accepted. Particularly prominent examples of such ...