Explain what is suggested by a a Z-score greater than three or minus three. Also, explain how that is useful to find the extreme values. Identify the type of analysis which should be done when there are extreme or outlier values.

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Answer 1

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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6, Problem 3P

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Explain what is suggested by a a Z-score greater than three or minus three. Also, explain how that is useful to find the extreme values. Identify the type of analysis which should be done when there are extreme or outlier values.

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Answer 2

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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6, Problem 3P

To determine

Explain what is suggested by a a Z-score greater than three or minus three. Also, explain how that is useful to find the extreme values. Identify the type of analysis which should be done when there are extreme or outlier values.

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Answer 3

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6, Problem 3P

To determine

Explain what is suggested by a a Z-score greater than three or minus three. Also, explain how that is useful to find the extreme values. Identify the type of analysis which should be done when there are extreme or outlier values.

Expert Solution & Answer

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Answer 4

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6, Problem 3P

To determine

Explain what is suggested by a a Z-score greater than three or minus three. Also, explain how that is useful to find the extreme values. Identify the type of analysis which should be done when there are extreme or outlier values.

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Answer 5

Chapter 6, Problem 3P

To determine

Explain what is suggested by a a Z-score greater than three or minus three. Also, explain how that is useful to find the extreme values. Identify the type of analysis which should be done when there are extreme or outlier values.

Answer 6

Chapter 6, Problem 3P

To determine

Explain what is suggested by a a Z-score greater than three or minus three. Also, explain how that is useful to find the extreme values. Identify the type of analysis which should be done when there are extreme or outlier values.

Answer 7

Chapter 6, Problem 3P

To determine

Explain what is suggested by a a Z-score greater than three or minus three. Also, explain how that is useful to find the extreme values. Identify the type of analysis which should be done when there are extreme or outlier values.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 6 - Prob. 1MCQ Ch. 6 - Prob. 2MCQ Ch. 6 - Prob. 3MCQ Ch. 6 - Prob. 4MCQ Ch. 6 - Prob. 5MCQ Ch. 6 - Prob. 6MCQ Ch. 6 - Prob. 7MCQ Ch. 6 - Prob. 8MCQ Ch. 6 - Which testing approach would be useful in...Ch. 6 - Prob. 10MCQ

Explain what is suggested by a a Z-score greater than three or minus three. Also, explain how that is useful to find the extreme values. Identify the type of analysis which should be done when there are extreme or outlier values.

Solution Summary: The author explains that a Z-score greater than three or minus three suggests that the transaction is having very rare chances of happening.

Explain what is suggested by a a Z-score greater than three or minus three. Also, explain how that is useful to find the extreme values. Identify the type of analysis which should be done when there are extreme or outlier values.

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