Keypoints

• you can construct and interpret a sampling distribution of a statistic (like a median, mean or proportion) by applying random sampling from a population
• you know and can demonstrate some the properties of the sampling distribution of a mean:
  • the larger the sample size, the more the distribution of sample means approaches the normal distribution
  • the true mean is better estimated with increasing sample size
  • the standard deviation among sampling means equals the population standard deviation divided by the square root of the sample size
• you are able to demonstrate with an example that the Central Limit Theorem works.