This topic contains a solution. Click here to go to the answer

Author Question: List the characteristics of the standardized normal distribution and explain why it is a useful ... (Read 67 times)

codyclark

  • Hero Member
  • *****
  • Posts: 538
List the characteristics of the standardized normal distribution and explain why it is a useful distribution in inferential statistics.

Question 2

The best way for a company to assess its corporate strengths is in terms of absolute measures.
 a. True
  b. False
 Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

marict

  • Sr. Member
  • ****
  • Posts: 304
Answer to Question 1

The characteristics of the standardized normal distribution are as follows:
(1) It is symmetrical about its mean.
(2) The mean identifies the normal curve's highest point (the mode) and the vertical line about which this normal curve is symmetrical.
(3) The normal curve has an infinite number of cases (it is a continuous distribution), and the area under the curve has a probability density equal to 1.0.
(4) The standardized normal distribution has a mean of 0 and a standard deviation of 1.

The standardized normal distribution is a purely theoretical probability distribution, but it is the most useful distribution in inferential statistics. It is valuable because we can translate, or transform, any normal variable, X, into the standardized value, Z. The standardized normal table in the back of most statistics and marketing research books allows us to evaluate the probability of the occurrence of many events without any difficulty.

Answer to Question 2

False




codyclark

  • Member
  • Posts: 538
Reply 2 on: Jun 28, 2018
Great answer, keep it coming :)


komodo7

  • Member
  • Posts: 322
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

For a complete list of videos, visit our video library