You are applying for a job at two companies. Company A offers starting salaries with u = $34,000 and o = $4,000. C u = $34,000 and o = $9,000. From which company are you more likely to get an offer of $42,000 or more? Choose the correct answer below. A. Company A, because data values that lie more than two standard deviations from the mean are considerec B. Company B, because data values that lie within one standard deviation from the mean are not considered e OC. No difference, because data values that lie more than three standard deviations from the mean are conside
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
The z score formula is:
The z-scores that are equal to 2 or greater than 2 are considered an unusual score.
For company A, the z score is:
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