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Greetings Classmates and Dr. Barrios, The empirical rule is commonly used in statistics to predict final results. After determining the standard deviation and before gathering
Greetings Classmates and Dr. Barrios, The empirical rule is commonly used in statistics to predict final results. After determining the standard deviation and before gathering specific data, this rule can be used as an early forecast of the results of the incoming data to be collected and evaluated. The empirical rule is often referred to as the three-sigma rule. Three-sigma is a statistical term for a distribution of data that is three standard deviations or less from the mean on a normal distribution. This probability distribution can be used as an intermediate heuristic because gathering the required data may take a while or perhaps be impossible in some cases. These challenges come into play when businesses examine their quality control procedures or evaluate their risk exposure. Can you reply to this class discussion
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