Answered You can hire a professional tutor to get the answer.
CustomerID 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134
Look at some descriptive statistics of the Century Nation Bank data set. Assume that data set represents a sample from the population of all account balances. And, assume the account balances in the sample can be modeled with a normal distribution with mean $1,500 and standard deviation of $587.
Determine if the empirical rule contradicts the assumptions. In other words:
Apply the empirical rule and compare the results to the analysis of the actual data set
Determine the number of observations you expect to lie within one standard deviation of the mean according to the empirical rule and compare it to the actual number of observations that lie within one standard deviation of the mean.
Determine the number of observations you expect to lie within two standard deviations of the mean according to the empirical rule and compare it to the actual number of observations that lie within two standard deviations of the mean.
Determine the number of observations you expect to lie within three standard deviations of the mean according to the empirical rule and compare it to the actual number of observations that lie within three standard deviations of the mean.
Determine if the results of the empirical rule are similar to the analysis of the actual data set.
Write 2-3 paragraph report of your findings.
