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6-1
Continuous Probability
Distributions
Business Statistics:
Communicating with Numbers, 2e
By Sanjiv Jaggia and Alison Kelly
11/13/2016
LO6.1Describeacontinuousrandomvariable.
Continuous
LO6.1
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LO6.3
Symmetric
Bell-shaped
Closely approximates the probability distribution of a
wide range of random variables, such as the
Scores on SAT
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Example:SupposetheagesofemployeesinIndustriesA,
B,andCarenormallydistributed.
Herearetherelevantparameters:
LetscompareindustriesusingtheNormalcurves.
LO6.3
LO6.4Usethestandardnormaltable(ztable).
Aspecialcaseofthenormaldistribution:
Mean()isequaltozero(E(Z)=0).
Standarddeviation()isequaltoone
(SD(Z)=1).
LO6.4
TheStandardNormal(Z)Distribution.
StandardNormalTable(Z Table).
SincetherandomvariableZissymmetricaboutits
meanof0,
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Find P(-1.52 < Z < 1.96) = P(Z < 1.96) P(Z < -1.52 )
Round NORM.S.INVs
output to 4 decimal places in
your HW BEFORE
doing other
calculations!
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Using symmetry, we
conclude that 16%
(half of 32%) of the
observations are
greater than 10%.
16%
16%
68%
LO6.4
LO6.5Calculateandinterpretprobabilitiesforarandomvariable
thatfollowsthenormaldistribution.
( + )
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End of Chapter 6
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