What relationship exists between the standard normal distribution and the box-plot methodology (Section 2.8) for describing distributions
Question:
a. Calculate the values of the standard normal random variable z, call them zL and zU, that correspond to the hinges of the box plot-that is, the lower and upper quartiles, QL and QU-of the probability distribution.
b. Calculate the z values that correspond to the inner fences of the box plot for a normal probability distribution.
c. Calculate the z values that correspond to the outer fences of the box plot for a normal probability distribution.
d. What is the probability that an observation lies beyond the inner fences of a normal probability distribution? The outer fences?
e. Can you better understand why the inner and outer fences of a box plot are used to detect outliers in a distribution? Explain.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Statistics For Business And Economics
ISBN: 9780321826237
12th Edition
Authors: James T. McClave, P. George Benson, Terry T Sincich
Question Posted: