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1. Explain what it means to standardize a random variable. 2. Explain in your words, what the central limit theorem says. 3. Explain in your

1. Explain what it means to standardize a random variable.

2. Explain in your words, what the central limit theorem says.

3. Explain in your words, what the Gauss-Markov Theorem says.

4. What is the kurtosis of a distribution? Explain with the help of a graph.

5. What is the skewness of a distribution? Explain with the help of a graph.

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