2. What do you understand by statistical Inference? What is the use of central limit theorem in estimation and testing of hypothesis? Justify you answer with the help of real life example with solution.

2. What do you understand by statistical Inference? What is the use of central limit theorem in estimation and testing of hypothesis? Justify you answer with the help of real life example with solution.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. What do you understand by statistical
Inference? What is the use of central limit
theorem in
estimation and testing of hypothesis? Justify
you answer with the help of real life example
with
solution.

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please help me with both the question. Thank you
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