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ECN 221 ASU Exam 2 Review Questions
And Answers 100% Pass
Normal distribution
Converting to z-scores - ANS Subtracting the mean and dividing it by the standard deviation
*normal distribution*
To find the probability of a value being less than or equal to x... - ANS 1. Convert X to a z
value by subtracting mean and dividing by the standard deviation
2. Then put in excel as =NORM.S.DIST(z,true)
*normal distribution*
To find the z-value in excel you use the excel function... - ANS =NORM.S.INV(probability)
This is the backwards way of finding the probability of a value being less than or equal to x
There are two types of continuous distribution.... - ANS Normal and Uniform
normal distribution is.... - ANS A function that represents the distribution of variables as a
symmetrical bell-shaped graph.
uniform distribution is... - ANS the frequency of each value of the variable is evenly spread
out across the values of the variable
, ©EVERLY 2025 ALL RIGHTS RESERVED
ex: rolling a 1,2,3,4,5,6 on a die
*uniform distribution*
Two parameters in uniform distribution include... - ANS a, the minimum possible value
b, the maximum possible value
*uniform distribution*
The probability can be determined by this formula... - ANS P(x1<x<x2) = (x2-x1)/(b-a)
Where x1 is greater than or equal to a;
and x2 is less than or equal to b
*uniform distribution*
The expected value for the random variable is E(x) = Avg, for a uniform distribution the formula
is... - ANS E(x) = (a+b)/2
*normal distribution*
For normal, the two parameters are... - ANS the mean and the standard deviation
A ________ ___________ ________ can assume any value in an
interval on the real line or in a collection of intervals. (3 words) - ANS continuous random
variable
*continuous distribution*
The probability of the random variable assuming a
particular value is... - ANS 0
ECN 221 ASU Exam 2 Review Questions
And Answers 100% Pass
Normal distribution
Converting to z-scores - ANS Subtracting the mean and dividing it by the standard deviation
*normal distribution*
To find the probability of a value being less than or equal to x... - ANS 1. Convert X to a z
value by subtracting mean and dividing by the standard deviation
2. Then put in excel as =NORM.S.DIST(z,true)
*normal distribution*
To find the z-value in excel you use the excel function... - ANS =NORM.S.INV(probability)
This is the backwards way of finding the probability of a value being less than or equal to x
There are two types of continuous distribution.... - ANS Normal and Uniform
normal distribution is.... - ANS A function that represents the distribution of variables as a
symmetrical bell-shaped graph.
uniform distribution is... - ANS the frequency of each value of the variable is evenly spread
out across the values of the variable
, ©EVERLY 2025 ALL RIGHTS RESERVED
ex: rolling a 1,2,3,4,5,6 on a die
*uniform distribution*
Two parameters in uniform distribution include... - ANS a, the minimum possible value
b, the maximum possible value
*uniform distribution*
The probability can be determined by this formula... - ANS P(x1<x<x2) = (x2-x1)/(b-a)
Where x1 is greater than or equal to a;
and x2 is less than or equal to b
*uniform distribution*
The expected value for the random variable is E(x) = Avg, for a uniform distribution the formula
is... - ANS E(x) = (a+b)/2
*normal distribution*
For normal, the two parameters are... - ANS the mean and the standard deviation
A ________ ___________ ________ can assume any value in an
interval on the real line or in a collection of intervals. (3 words) - ANS continuous random
variable
*continuous distribution*
The probability of the random variable assuming a
particular value is... - ANS 0
