Question 1. Give at least 5 characteristics of the Bell Curve
Question 2. For a normally distributed population, mean of 6.5 and standard deviation of 4, compute:
a. The probability of picking one item from the population and having it fall between 6.5 and 14.5
b. The probability of picking one item and having it fall above 14.34
c. The point, if the probability of picking an item from the population and having it fall above the point is 2.5%
d. Two points, equidistant from the mean, one to the left of the mean and one to the right that will include 98.98% of the population
Question 3. A sample of 300 is taken and the sample mean is computed to be 7.65 and the sample standard deviation is 5. Assume the data is ratio level.
a. Compute the 95% confidence interval on the mean.
b. Compute the 3.9% confidence interval on the mean
c. Which confidence interval is more practical and useful in a business situation? Why?