It would be approximately normal with a mean of 2.02 dollars and a standard error of 3.00 dollars.
probability is 43.3%
13.1 squared = 3.62
Standard deviation is the square root of the variance; so if the variance is 64, the std dev is 8.
Suppose a normal random variable has a mean of 72 inches and a standard deviation of 2 inches. Suppose the random variable X measures the height of adult males in a certain city. One may therefore conclude that approximately 84% of the men in this population are shorter than?
Suppose you plotted the same pairs of variables from two data sets on the same scattter plot, perhaps representing the two data sets in distinct colours. Then if the data sets differed sufficiently in standard deviation you would notice greater scatter or spread in one of them.
0.84
probability is 43.3%
12.4
64.
13.1 squared = 3.62
Standard deviation is the square root of the variance; so if the variance is 64, the std dev is 8.
Variance is 362 or 1296.
The Standard Deviation will give you an idea of how 'spread apart' the data is. Suppose the average gasoline prices in your town are 2.75 per gallon. A low standard deviation means many of the gas stations will have prices close to that price, while a high standard deviation means you would find prices much higher and also much lower than that average price.
Suppose the mean of a sample is 1.72 metres, and the standard deviation of the sample is 3.44 metres. (Notice that the sample mean and the standard deviation will always have the same units.) Then the coefficient of variation will be 1.72 metres / 3.44 metres = 0.5. The units in the mean and standard deviation 'cancel out'-always.
Standard deviation is a measure of the scatter or dispersion of the data. Two sets of data can have the same mean, but different standard deviations. The dataset with the higher standard deviation will generally have values that are more scattered. We generally look at the standard deviation in relation to the mean. If the standard deviation is much smaller than the mean, we may consider that the data has low dipersion. If the standard deviation is much higher than the mean, it may indicate the dataset has high dispersion A second cause is an outlier, a value that is very different from the data. Sometimes it is a mistake. I will give you an example. Suppose I am measuring people's height, and I record all data in meters, except on height which I record in millimeters- 1000 times higher. This may cause an erroneous mean and standard deviation to be calculated.
Yes, I have suppose that. Then what?
Suppose a normal random variable has a mean of 72 inches and a standard deviation of 2 inches. Suppose the random variable X measures the height of adult males in a certain city. One may therefore conclude that approximately 84% of the men in this population are shorter than?