This app implements a simulator for the Central Limit Theorem (CLT) based on the example of the age of euro coins. The Age of Coins example is a classical classroom example to show the main findings behind the CLT. We want to estimate the average age of euro coins and we assume that four types of populations can be hypothesized to model the coins production volume. The four populations are: Uniform, Normal, Right-skewed, and Exponentional. Each one of them models a different set of assumptions behind the production of euro coins.
The user can define the sample size, and the number of samples, to obtain the sampling distribution for the sample means (xbar). The user should be able to verify that, if the assumptions of the CLT are satisfied, the sample mean follows a normal distribution with mean equal to the population mean and standard deviation inversely proportional to the sample size.
Author: Marco Caserta
Suggestions, questions, or reviews for this app? Comments are open!
If any of the info above is incorrect or needs to be updated, please send an email to corrections (at) showmeshiny.com and reference this post's URL.