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Assume That X Is Normally Distributed with a Mean μ

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Assume that X is normally distributed with a mean μ = $64. Given that P(X ≥ $75) = 0.2981, we can calculate that the standard deviation of X is approximately:


Definitions:

Coefficient of Variation

A statistical measure of the dispersion of data points in a data series around the mean, expressed as a percentage.

Index Fund

An investment fund designed to follow certain preset rules so that the fund can track a specified basket of underlying investments.

PHStat

An Excel add-in designed to perform statistical analysis, it provides tools for statistical tests, data analysis, and graphical presentations.

Coefficient of Variation

A standardized measure of dispersion of a probability distribution or frequency distribution, calculated as the ratio of the standard deviation to the mean.

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