Chapter 56. The Normal Random Variable
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?
In Chapter 53, you learned that continuous random variables can be used to model quantities such as the following:
Price of Microsoft stock a 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 (such as sales of blazers during 2006) can assume many possible values, we can approximate the value by using a continuous random ...