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You are the salesperson of an FMCG company. One of your retailers tells you to take back some unsalable goods. You are not sure if the customer's claim is honest or not. You do not want to make the retailer unhappy as he brings you good business. How do you tackle this situation?
Probability Density Function
A function that describes the likelihood of a random variable to take on a particular value.
Continuous Random Variable
A variable whose value is not fixed and can assume an infinite number of values within a given range.
Normal Probability Distribution
A bell-shaped distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.
Standard Deviation
A framework for measuring the extent of divergence or distribution in a collection of quantities.
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