Question
2 The mean is the average of all the variables in a sample, often referred to as the arithmetic mean. The standard deviation is the
2 | The mean is the average of all the variables in a sample, often referred to as the arithmetic mean. The standard deviation is the most commonly used method for determining the average spread of a data set from the mean. Click the SalesVolume worksheet tab. In cell G1, calculate the mean of the sales volume. In cell G2, calculate the sample standard deviation. |
3 | Probability distributions are used to predict various aspects of the business. The normal distribution has wide applications in business and can be used to calculate the probability of sales, the number of customers to expect in a given week, employee performance, and operations, to name a few. In cell B2, calculate the probability of selling the exact number of products calculated in cell A2, using the normal distribution function and the mean and sample standard deviation calculated in the prior step. |
4 | Use the AutoFill handle to copy the function in cell B2 down through B82. |
5 | Create a scatter chart with smooth lines to graph the distribution of sales volume and probabilities. |
6 | Give the chart the title ofSales Volume Distribution. |
7 | Reposition the top left corner of the chart within cell E4 and the lower right corner within cell K18. |
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