Define central limit theorem and then interpret the followin

Define central limit theorem and then interpret the following statement Interpret statement \" the first quartile of the household income in the US is equal to $20000\"

Solution

The central limit theorem states that given a distribution with a mean and variance ², the sampling distribution of the mean approaches a normal distribution with a mean () and a variance ²/N as N, the sample size,increases.

the first quartile of the household income in the US is equal to $20000 this statement interpretation will be that the highest household income if divided in 4 groups will come out to be $20000