Assignment no 1. BUSINESS MATHEMATICS &STATISTICS. Q NO 1 Comments On It Why we
ID: 2951059 • Letter: A
Question
Assignment no 1. BUSINESS MATHEMATICS &STATISTICS. Q NO 1 Comments On It Why we prefer NormalDistribution over the other distributions inStatistics? Your comments should be relevantto the topic i.e. clear and concise.Assignment no 1. BUSINESS MATHEMATICS &STATISTICS. Q NO 1 Comments On It Why we prefer NormalDistribution over the other distributions inStatistics? Your comments should be relevantto the topic i.e. clear and concise.
Your comments should be relevantto the topic i.e. clear and concise.
Explanation / Answer
The normal distribution is preferred for a number of reasons: - A large number of natural occurrences are best modeled by thebell shape of the normal distribution (e.g. height) - The central limit theorem, which states that the sum of a largenumber of independent random variables will approximately be thenormal distribution, makes the normal distribution applicable evenwhen the underlying distribution isn't normal - The normal distribution is strictly stable as a probabilitydistribution, and is easily transformed into its standardized (0,1)form, allowing for easy calculation
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