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Business statistics-for contemporary decision making

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Reference no: EM132752606

Black, K. (2017). Business Statistics: For Contemporary Decision Making, (9th Edition). Hoboken, NJ: Wiley.

Discussion 1

Consider the demonstration problem 6.3 which uses a normal distribution to determine the probability associated with generating between 3.6 and 5 pounds of waste per year.

Discuss any one of the following concepts associated with this problem.

1. What are the "clues" that the problem can be solved with the use of the normal distribution?

2. What is the relationship between the x value (e.g 3.6) and the z score?

3. How is the probability of the event (3.6 to 5 pounds of waste) related to a specific area under the curve?

4. How do we determine the area between 2 z values?

Reference no: EM132752606

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