Use @RISK's Define Distributions tool to draw a normal distribution with mean 500 and standard deviation 100. Then answer the following questions. Round your answers to three decimal places, if necessary.

Use @RISK's Define Distributions tool to draw a normal distribution with mean 500 and standard deviation 100. Then answer the following questions. Round your answers to three decimal places, if necessary.

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter5: Probability: An Introduction To Modeling Uncertainty

Section: Chapter Questions

Problem 22P: Consider a Poisson distribution with . Write the appropriate Poisson probability mass...

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Question

Use @RISK's Define Distributions tool to draw a normal distribution with mean 500 and standard deviation 100. Then answer the following questions.

Round your answers to three decimal places, if necessary.

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.

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