Explain in detail why the central limit theorem is the corne
Explain, in detail why the central limit theorem is the cornerstone of statistical estimation
Solution
The central limit theorem (CLT) is a fundamental result from statistics. It states that the sum of a large number of independent identically distributed (iid) random variables will tend to be distributed according to the normal distribution. A first version of the CLT was proved by the English mathematician Abraham de Moivre (1667
