Statistics for Business

5

Probability Analysis in the Normal Distribution

Your can of Beer or Your Bar of Chocolate

When you buy a can of beer written 33 cl on the label, you have exactly a volume of 33 cl in the can, right? You are almost certainly wrong as this implies a volume of 33.0000 cl. When you buy a bar of black chocolate it is stamped on the label, net weight 100 g. Again, it is highly unlikely that you have 100.0000 g of chocolate. In operations, where the target, or the machine setting is to obtain a certain value it is just about impossible to always obtain this value. Some values will be higher, and some will be lower, just because of the variation of the filling process for the cans of beer or the moulding operation for the chocolate bars. The volume ...