Central Limit Theorem

Louis Cranier

No fv942, OSF Preprints from Center for Open Science

Abstract: In probability theory, the central limit theorem (CLT) establishes that, in many situations, when independent random variables are summed up, their properly normalized sum tends toward a normal distribution even if the original variables themselves are not normally distributed. The theorem is a key concept in probability theory because it implies that probabilistic and statistical methods that work for normal distributions can be applicable to many problems involving other types of distributions.

Date: 2022-07-16
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:fv942

DOI: 10.31219/osf.io/fv942

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