In statistics, a distribution possesses two primary characteristics: central tendency and variability. Central tendency is an indicator of the 'center' or typical value of the data, which is usually calculated via mean, median or mode. In contrast, variability demonstrates the extent to which the data deviates from this central value, which is commonly measured by variance or standard deviation.
| Topic | Problem | Solution |
|---|---|---|
| None | Suppose that a company's monthly sales follow a n… | The normal distribution is defined by two parameters: the mean (\(\mu\)) and the standard deviation… |