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    Statistics:Data Management: Section 1: The Normal Distribution Section 2: Simple Linear Regression

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    hellloitisme
    Here are the key steps to solve this problem: 1) Identify the relevant information: - Average (mean) salary loan = P23,000 - Standard deviation = P2,500 - We want to find the probability that the loan is less than P18,500 2) Convert the value we are interested in (P18,500) to a z-score using the formula: z = (x - μ) / σ z = (18,500 - 23,000) / 2,500 = -2 3) Look up the area under the standard normal curve to the left of z = -2 in the tables. This is the probability that a randomly selected employee's loan is less

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    Statistics:Data Management: Section 1: The Normal Distribution Section 2: Simple Linear Regression

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    hellloitisme
    44 views10 pages
    Here are the key steps to solve this problem: 1) Identify the relevant information: - Average (mean) salary loan = P23,000 - Standard deviation = P2,500 - We want to find the probability that the loan is less than P18,500 2) Convert the value we are interested in (P18,500) to a z-score using the formula: z = (x - μ) / σ z = (18,500 - 23,000) / 2,500 = -2 3) Look up the area under the standard normal curve to the left of z = -2 in the tables. This is the probability that a randomly selected employee's loan is less

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    STATISTICS

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    Here are the key steps to solve this problem: 1) Identify the relevant information: - Average (mean) salary loan = P23,000 - Standard deviation = P2,500 - We want to find the probability that the loan is less than P18,500 2) Convert the value we are interested in (P18,500) to a z-score using the formula: z = (x - μ) / σ z = (18,500 - 23,000) / 2,500 = -2 3) Look up the area under the standard normal curve to the left of z = -2 in the tables. This is the probability that a randomly selected employee's loan is less

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    44 views10 pages

    Statistics:Data Management: Section 1: The Normal Distribution Section 2: Simple Linear Regression

    Uploaded by

    hellloitisme
    Here are the key steps to solve this problem: 1) Identify the relevant information: - Average (mean) salary loan = P23,000 - Standard deviation = P2,500 - We want to find the probability that the loan is less than P18,500 2) Convert the value we are interested in (P18,500) to a z-score using the formula: z = (x - μ) / σ z = (18,500 - 23,000) / 2,500 = -2 3) Look up the area under the standard normal curve to the left of z = -2 in the tables. This is the probability that a randomly selected employee's loan is less

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 10

    STATISTICS:DATA

    MANAGEMENT
    Section 1: The Normal Distribution

    Section 2: Simple Linear Regression


    Objectives:

    1) use empirical rules to solve an application problem


    2) use the normal distribution to solve an application problems involving probabilities
    3) apply the central limit theorem in problem involving probability
    4) determine the linear regression model
    5) use linear regression to make predictions
    The Normal Distribution and the Central
    Limit Theorem
     Inferential statistics – uses sampling distribution to draw conclusions about a given
    population based on the analysis of random samples.

     Statistics – consists of a body of methods for collecting and analyzing data.


     It is a methodology for interpreting and drawing conclusions from collected data.
    Important Components for statistical research
    study
     Design – the researcher must know the appropriate statistical methods to carry out a plan,
    implement rules, and evaluate experiments properly.

     Description – the researcher must know how to guide readers in understanding the
    methods of a research and in analyzing its results.

     Inference – the researcher must use the results of data analysis to make good predictions
    and correct decisions.
    The Normal Distribution

     The normal distribution is perhaps the most commonly used continuous probability
    distribution in the entire field of statistics.
     It provides a good model for most continuous populations.
     It has a bell-shaped curve also known as the normal curve
    Characteristics for Normal Distribution
     The distribution is bell-shaped.

     The mean, median, and mode are equal and are located at the center of the distribution.

     The normal distribution is unimodal

     The curve is symmetric about the mean

     The normal distribution is continuous

     The normal curve is asymptotic

     The total area under the normal distribution curve is 1.00 or 100%

     The area under the part of a normal curve that lies within 1 standard deviation of the mean 68%; within 2
    standard deviation, about 95%; and with 3 standard deviation, about 99.7%.
    Normal Distribution Curve
    Standard Normal Distribution

     A normal distribution can be converted in to a standard normal distribution by obtaining


    the z-value. A z-value is the signed distance between selected value, designated x, the
    mean, µ divided by the standard deviation, σ
     It is also called the z scores.

     Standard normal value

    x
    z

    Example:
    Determine the area under the standard normal distribution curve
    a. Between z = 0 and z = 1.85
    b. Between z = 0 and z = -1.15
    c. To the right of z = 1.15
    d. To the left of z = -1.85
    e. Between z = 0.75 and z = 1.85
    f. Between z = -0.75 and z = -1.85
    g. Between z = 1.15 and z = -1.85
    h. To the left of z = 1.15
    i. To the right of z = -1.15
    j. To the right of z = 1.15 and to the left of z =-1.85
    k. Find the z value such that the area under the standard normal distribution curve is between 0
    and z value is 0.3962
    Application
     The average Pag-ibig salary loan for RFS Pharmacy Inc. employees is P23,000. If the debt
    is normally distributed with a standard deviation of P2,500, find the probability that the
    employee owes less than P18,500.
     The average age of bank managers is 40 years. Assume the variable is normally
    distributed. If the standard deviation is 5 years, find the probability that the age of a
    randomly selected bank manager will be in the range between 35 and 46 years old.

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