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Microsoft® Office Excel® 2007: Data Analysis and Business Modeling, Second Edition by Wayne L. Winston

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Chapter 58. 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?

What are the properties of the normal random variable?

  • In Chapter 55, 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

    • Person’s IQ

  • Remember that if a discrete random variable (such as sales of blazers during 2006) can assume many possible values, ...

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