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1
) Introduction
2
) Building a Sampling Distribution of Sample Means (Xbar)
3
) XLOOKUP to lookup all values for all possible samples.
4
) Proving that Mean of Sampling Distribution of Sample Means (Xbar) is equal to Population Mean
5
) Build Frequency Distribution & Histograms using worksheet formulas. See SEQUENCE and COUNTIFS functions to discover that the pattern for the Sampling Distribution of Sample Means (Xbar) is Normal, …
6
) Sampling Distribution of Sample Means (Xbar) has less spread than Population Data
7
) Central Limit Theorem and its use to make decisions
8
) Learning how the Standard Deviation (Standard Error) Formula is created from Sampling Distribution of Sample Means (Xbar)
9
) Standard Error Formula
10
) Correction Factor for Standard Error
11
) Relationship between Sample Size, Standard Error and the probability associated with a given interval with a lower and upper value
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) Sampling Distribution, Normal Bell Distribution Model and the Central Limit Theorem to make business decisions
13
) First mention of t distribution
14
) Check reasonableness of a claim with two statistical methods: Hypothesis Testing and Confidence Intervals
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) Hypothesis Testing to assess whether a claim is reasonable: Insurance Policy Price example. See Excel functions: NORM.S.DIST, NORM.S.INV
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) Confidence Intervals to assess whether a claim is reasonable: Insurance Policy Price example
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) Confidence Intervals to estimate a range of values for a population mean: Computer Printer Cartridge example
18
) t Distribution example. See the Excel function: T.INV
19
) Assessing reasonableness of Manufacture sample. See Excel functions: NORM.DIST and NORM.S.DIST to calculate p-value
20
) Summary of video
21
) Closing, Next Video and Video Links
Description:
Dive into a comprehensive 50-minute video tutorial on the Central Limit Theorem and its application in statistical analysis using Excel. Build a Sampling Distribution of Sample Means (Xbar) to understand this powerful statistical concept. Calculate mean and standard deviation for the sampling distribution, and explore how the theorem is used in business decision-making through hypothesis testing and confidence intervals. Learn to utilize Excel functions like NORM.DIST, NORM.S.DIST, NORM.S.INV, and T.INV while examining z and t distributions as models for the Sampling Distribution of Sample Means. Apply these concepts to real-world examples, including insurance policy pricing and computer printer cartridge manufacturing. Download accompanying Excel and PDF files for hands-on practice and reference.

Excel Statistical Analysis - Learn Central Limit Theorem by Building Sampling Distribution of Xbar

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#Business #Business Software #Microsoft Office 365 #Microsoft Excel #Mathematics #Statistics & Probability #Hypothesis Testing #Central Limit Theorem #Confidence Intervals #Statistical Analysis #Sampling Distributions #t-Distribution #Frequency Distribution #Data Science #Data Analysis #Spreadsheets #XLOOKUP
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) Introduction