normal_table_read_it - The Standard Normal table: Read it...

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Unformatted text preview: The Standard Normal table: Read it Prof. J. Murdock This handout is required reading for all students in ECO220Y1Y in 2009/10. 1 The last page (page 3) provides the specific Standard Normal table that you will be given at assessments, which includes the final examination. The first two pages show examples of reading the table on page 3. Our textbook used this very common version of the table in all previous editions, but not in the current edition (8th). The answers and concepts do not depend on the version of the table. You should acquire the skill of reading statistical tables no matter which way they are constructed. If you understand probability distributions, which is a requirement of our course, then you can figure out any statistical table. However, you may not want to figure it out for the first time during an assessment, which is why I put together this handout. I would recommend using this table when doing your homework. Example A. Looking at the middle of the table find the number 0.3770. What does that mean? Referring to the associated row and column headings, it means that P (0 < Z < 1 . 16) = 0 . 3770. Notice how that corresponds with the picture at the top right of the table. Example B. Looking at the top left of the table find the number 0.0000. What does that mean? Referring to the associated row and column headings, it means that P (0 < Z < . 00) = 0 . 0000. In other words, there is no area under the standard normal curve between zero and zero. Remember that for all continuous distributions the probability of a specific value is zero. The probability is the area under the density function. If there is no width, there can be no area. Example C. Looking at the bottom part of the table find the number 0.4967. What does that mean? It means that P (0 < Z < 2 . 72) = 0 . 4967. Example D. What is the probability that Z is between 0 and 1? From the table: P (0 < Z < 1) = 0 . 3413. Example E. What is the probability that Z is within one standard deviation of its mean? Before looking at the table we must remember that the standard normal random variable has a mean of zero and a standard deviation of one and is symmetric about the mean. Hence, the question is asking us to find P ( 1 < Z < 1). The table does not tell us that probability directly. However, we1)....
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This note was uploaded on 04/10/2010 for the course ECO ECO220 taught by Professor Atamazaheri during the Spring '09 term at University of Toronto- Toronto.

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normal_table_read_it - The Standard Normal table: Read it...

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