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E1.8. Sampling Distribution of the Sample Mean (Econometrics Math)

In this video, I use some basic probability to describe some properties of the sample mean. I start the video with a description of what it means to take a random sample, and I emphasize the fact that a random sample is a random vector with a joint distribution. After describing the random sample, I show how to compute the expectation of the sample mean (and show that it is unbiased for the population mean). Next, I use some basic results on linear formulas to compute the variance of the sample mean. Finally, I conclude with an example of a normally distributed population. I do this to emphasize the properties of the distribution of X-bar (the sampling distribution).
Length: 11:40

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