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Microsoft® Excel® 2010: Data Analysis and Business Modeling by Wayne L. Winston

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Chapter 65. The Normal Random Variable

Questions answered in this chapter:

  • What are the properties of the normal random variable?

  • How do I use Excel to find probabilities for the normal random variable?

  • Can I use Excel to find percentiles for normal random variables?

  • Why is the normal random variable appropriate in many real-world situations?

Answers to This Chapter’s Questions

What are the properties of the normal random variable?

In Chapter 62, you learned that continuous random variables can be used to model quantities such as the following:

  • Price of Microsoft stock one year from now

  • Market share for a new product

  • Market size for a new product

  • Cost of developing a new product

  • Newborn baby’s weight

  • A person’s IQ

Remember that if a discrete random variable ...

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