Ch 3&4

location- where is majority of data found (mean, median, mode)

spread- how variable data are (sd, variance, standard errors)

Y stands for random variables

subscript i indicates observation

n is sample size, i can be any integer between 1 and n

greek letters show unknown parameters of distributions 

unbiased estimator must meet three conditions:

1) random

2)independent 

3) drawn from larger pop that has normal random variable

Law of Large Numbers - as sample size n increases, the arithmetic mean of Y  approaches the expected value of Y, E(Y) 

?? Geometric mean ??