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What is shapes of distribution?
It is any shape that you want, provided that the total area under the curve is 1.
If the tails of the normal distribution curve are infinitely long. Is it True or False that the total area under the curve is also infinite?
False. A normalized distribution curve (do not confuse normalized with normal), by definition, has an area under the curve of exactly 1. That is because the probability of all possible events is also always exactly 1. The shape of the curve does not matter.
What is the z value such that 50 percent of the total area lies to the right of the curve in a normal distribution?
The Z value is 0.
Is the total area within a continuous probability distribution is equal to 1?
Yes.
What are the characteristics of a normal distribution curve?
Characteristics of a Normal Distribution1) Continuous Random Variable.2) Mound or Bell-shaped curve.3) The normal curve extends indefinitely in both directions, approaching, but never touching, the horizontal axis as it does so.4) Unimodal5) Mean = Median = Mode6) Symmetrical with respect to the meanThat is, 50% of the area (data) under the curve lies to the left ofthe mean and 50% of the area (data) under the curve liesto the right of the mean.7) (a) 68% of the area (data) under the curve is within onestandard deviation of the mean(b) 95% of the area (data) under the curve is within twostandard deviations of the mean(c) 99.7% of the area (data) under the curve is within threestandard deviations of the mean8) The total area under the normal curve is equal to 1.
Is the total area under a normal distribution curve to the right of the mean is always equal to 0?
100%
The total area under a normal distribution is infinite?
The total area under a normal distribution is not infinite. The total area under a normal distribution is a continuous value between any 2 given values. The function of a normal distribution is actually defined such that it must have a fixed value. For the "standard normal distribution" where μ=0 and σ=1, the area under the curve is equal to 1.
Is in the normal distribution the total area beneath the curve represent the probability for all possible outcomes for a given event?
Yes. The total area under any probability distribution curve is always the probability of all possible outcomes - which is 1.
Give three properties of a normal distribution function?
1.it is bell shaped.2.m.d=0.7979 of s.d 3.total area under the normal curve is equal to 1.
What is a Lorenz curve?
The Lorenz curve was developed by Max O. Lorenz. The Lorenz curve is a visual representation in economics which displays the income distribution of a nation graphically. On the y-axis, you have income distribution (either as a percentage, or in decimal form); on the x-axis, there is population distribution of total wealth. There is an upward sloping, 45 degree reference line that shows perfectly equal distribution of wealth (i.e 25% of the lowest income earners have 25% of the nation's income). From the Lorenz curve, you can calculate the Gini coefficient; the closer the coefficient is to zero, the more distributed the income of a nation is.
What is shapes of distribution?
It is any shape that you want, provided that the total area under the curve is 1.
What happens when the slope of the total revenue curve is equal to the slope of the total cost curve?
a. monopoly profit is maximized. b. marginal revenue equals marginal cost. c. the marginal cost curve intersects the total average cost curve. d. the total cost curve is at its minimum. e. Both A and B
Is The total area under the curve of any normal distribution is 1.0?
yes because 1 = 100% so the entire area under the curve is 100%
If the tails of the normal distribution curve are infinitely long. Is it True or False that the total area under the curve is also infinite?
False. A normalized distribution curve (do not confuse normalized with normal), by definition, has an area under the curve of exactly 1. That is because the probability of all possible events is also always exactly 1. The shape of the curve does not matter.
What is a Lorenz?
The Lorenz curve was developed by Max O. Lorenz. The Lorenz curve is a visual representation in economics which displays the income distribution of a nation graphically. On the y-axis, you have income distribution (either as a percentage, or in decimal form); on the x-axis, there is population distribution of total wealth. There is an upward sloping, 45 degree reference line that shows perfectly equal distribution of wealth (i.e 25% of the lowest income earners have 25% of the nation's income). From the Lorenz curve, you can calculate the Gini coefficient; the closer the coefficient is to zero, the more distributed the income of a nation is.
What is the expected value of the standard normal distribution equal to?
The expected value of the standard normal distribution is equal to the total amount of the value. It is usually equal to it when the value works out to be the same.
Is the area under the marginal cost curve equal to the total variable cost?
yes
