![]() The mean determines the center of the curve, and the standard deviation controls how wide or narrow it is. Together, these parameters describe the shape and characteristics of the bell-shaped curve that is typical of the Normal Distribution. The mean represents the average or central value of the data, while the standard deviation measures the spread or variability of the data points. The parameters of the Normal Distribution, also known as the Gaussian Distribution, are the mean and the standard deviation. ![]() In other words, μ ± 1σ covers 68.27% of the area, μ ± 2σ covers 95.45% of the area, and μ ± 3σ represents 99.73% of the area. This is often called the “Empirical Rule,” which helps us understand where the majority of data in a normal distribution is located. Approximately 95.45% of the data falls within two times the standard deviation range, and around 99.73% falls within three times the standard deviation range. In most cases with normal distributions, about 68.27% of the data will be found within one standard deviation above or below the average. One Peak: The normal distribution curve has only one hump or peak.This reflects the even distribution of data. Half of Values on each side of the Center: Exactly half of the values are to the right of the center, and the other half is to the left of the center.In simpler terms, if you add up all the probabilities of all possible values, it equals 100%. Total Area under the Curve: The entire area under the normal distribution curve adds up to 1.This means that the values on one side of the mean are like a mirror image of the other side. If you fold it in half at the center, both sides look the same. Symmetry at the Center: A normal distribution curve is symmetrical.These parameters describe its uni-modal, bell-shaped, and symmetrical curve. Defined by Mean and Standard Deviation: A normal distribution is uniquely determined by two parameters, the average (mean) and the spread or variability (standard deviation).Positive Value: For any value of x, f(x) will have a positive value.Equality of Mean, Median, and Mode: In a normal distribution, the average (mean), middle value (median), and most frequent value (mode) are all the same.P (|X – 49| < 5) = 0.46802 Properties of Normal Distribution Budgetary Control: Meaning, Objectives, Advantages and Limitations.Organisation Development: Concept, Features, Objectives, and Roles.Real Estate Investment Trust (REIT): Criteria, Working, Types, Advantages and Limitations. ![]() Difference between Insolvency and Bankruptcy.Adam's Equity Theory: Concept, Merits and Demerits.Portfolio Management: Concept, Objectives, Process and Types.Decision making: Meaning, Nature, Role and Relationship between Planning and Decision-making.Difference Between Management by Objectives (MBO) and Management by Exception (MBE).Organisation Manual: Meaning, Contents and Types.Difference between Bilateral Trade and Multilateral Trade. ![]()
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