Part 1. Demonstrate that you understand basic concept of Normal Distribution. In two small paragraphs describe...

Part 1. Demonstrate that you understand basic concept of Normal Distribution. In two small paragraphs describe a couple of properties/rules of Normal distribution. Hint: look for KEY FACTS and DEFINITIONS in sections 6.1 and 6.2 of eText. Give one example of some practical case where we can use Normal distribution (for instance, IQ scores follow a normal distribution of probabilities with the mean IQ of 100 and a standard deviation around the mean of about 15 IQ points.) Part 2. Assign your numbers for mean μ and standard deviation σ. Make sure μ is about four times bigger than σ. Then select any number "a" below or above mean μ, but not too far from μ , difference (a - μ) should be less than 3σ. For example, μ = 80, σ = 20, a = 90 (or a = 75). Find following two probabilities: 1) P(x < a) 2) P(x > a) First, use formula: z = (a - μ)/σ to calculate z-value and then use Appendix Table for Standard Normal Distribution. You can find tables in Appendix to our eText or attached below. Remember, Appendix Table gives you probability P(xa) use formula: P(x>a) = 1 - P(x

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orchestra answered 1 year ago

Describe the point estimate, normal probability distribution, and standard normal probability distribution in details, in 4 paragraphs.

Empolyee age 1 25 2 32 3 26 4 40 5 50 6 54 7 22 8 23 age Mean 34 Standard Error 4.444097209 Median 29 Mode #N/A Standard Deviation 12.56980509 Sample Variance 158 Kurtosis -1.152221485 Skewness 0.767648041 Range 32 Minimum 22 Maximum 54 Sum 272 Count 8 Confidence Level(95.0%) 10.50862004 Describe the point estimate, normal probability distribution, and standard normal probability distribution in details, in 4 paragraphs.

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