hello,
I have this question in a test: "Should we need to be concerned regarding the characteristics of the probability distribution in a situation where we have 50 data points with sample mean 6.25 and sample variance 11?"
I know what sample mean and sample variance are and how they are calculated BUT I don`t even know how to start tackling this question. I am not after being spoon fed with the exact answer but any tip, article or video that can help me interpret the above question would be much appreciated.
thanks
I have this question in a test: "Should we need to be concerned regarding the characteristics of the probability distribution in a situation where we have 50 data points with sample mean 6.25 and sample variance 11?"
I know what sample mean and sample variance are and how they are calculated BUT I don`t even know how to start tackling this question. I am not after being spoon fed with the exact answer but any tip, article or video that can help me interpret the above question would be much appreciated.
thanks