Olea
New member
- Feb 27, 2013
- 0
- 0
- 0
or bell shaped distribution,? Mean=$45,000
Standard Deviation=$10,000
Suppose your boss asked you to model the earned income of 5 individuals. He also wanted you to select these 5 random earned income so that they would resemble real world probabilities, that is most of the numbers would be close to the mean of $45,000. And the further that you got away from $45,000 the more unlikely that income would be. Most distributions are normal so this is a real life scenario that you may face with someday. That is modeling a normal distribution).
PLEASE HELP!!
Standard Deviation=$10,000
Suppose your boss asked you to model the earned income of 5 individuals. He also wanted you to select these 5 random earned income so that they would resemble real world probabilities, that is most of the numbers would be close to the mean of $45,000. And the further that you got away from $45,000 the more unlikely that income would be. Most distributions are normal so this is a real life scenario that you may face with someday. That is modeling a normal distribution).
PLEASE HELP!!