Answered: What is NOT true about normal…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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What is NOT true about normal distribution?

We can expect approximately 99.7% of the possible outcomes to fall within three standard deviations above and below the mean

We can expect approximately half of the possible outcomes to be positive and half to be negative

We can expect approximately 95% of the possible outcomes to fall within two standard deviations above and below the mean

It is completely defined by two numbers: mean and standard deviation

It is bell shaped and symmetric

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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