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In-class_exercise_7

# In-class_exercise_7 - InclassExercise#7 #6

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In-class Exercise #7 Probability density and cumulative probability functions for the normal probability distribution This exercise is very similar to #6.   It uses Excel to construct graphs of the density and the  cumulative probability functions for the case of a normally distributed random variable.  It also  incorporates Chapter 7 by obtaining the probability distribution and density function for a sample  mean derived from the same variable.  To fully understand the concepts of sampling and sample  mean probability distributions you can read section 7.5.   From that section we will be using  equation 7.1 to obtain the correct mean, and equation 7.3 to obtain the correct standard deviation,  and will then reproduce a graph similar to Figure 7.7, p. 294. Assume that a random variable X = sales per day, and that the historical average is \$500, with a  standard deviation of \$100.  We could use this information to derive both the density function

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