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    AdanChin's Avatar
    AdanChin Posts: 7, Reputation: 1
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    #1

    Oct 1, 2012, 01:31 AM
    statistics and standard deviations help
    hi, I have 2 assignment questions that I just cannot figure out. Is there a formula or something that I need to follow to complete those calculations? Can somebody just point me in the right direction? Not expecting any free answers, I just have absolutely no idea what to do.

    (b) assume your sample “Sold Price” data were normally distributed, and calculate, using values from a Standard Normal table, how many “Sold Price” data items in your sample you would expect to be within -2.3 standard deviations and +2.3 standard deviations from the mean (i.e. within Z = -2.3 and Z = +2.3).

    (c) By reference to your sorted “Sold Price” data in Task 3, and the mean and standard deviation from the Descriptive Statistics table of Task 4, manually count the number of “Sold Price” data between (Mean - 2.3standard deviations) and (Mean + 2.3standard deviations), and verify whether this count matches your answer to (b). Can you hence justify your normality assumption in (b)?
    Unknown008's Avatar
    Unknown008 Posts: 8,076, Reputation: 723
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    #2

    Oct 1, 2012, 08:44 AM
    Do you understand how to use the z-table (normal distribution table)? If you don't, then it's near to impossible for you to solve the first question. And without the answer to the first question, the second question cannot be answered (but if you get that, it should be easy as it's simple counting and comparison of numbers).

    The answer to (b) will depend on the z table that you were taught to use. There are 2 types of tables if I remember well (or perhaps 3), so it might be a bit difficult to explain how to use it if you don't know what kind of table you were given =/. The explanation could be the wrong one, and you will only get more confused.

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