Highly Influential

10.1.1 Definition Given a random variable X with finite mean µ and variance σ 2 , the standardization of X is the random variable X so that X * is just X measured in different units, called standard units. Standardized random variables are extremely useful because of the Central Limit Theorem, which will be described in Lecture 11. As Hodges and Lehmann [3… (More)

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