Unit 3: The Normal Distribution
A distribution is a line graph representation of the probability that an event will occur. It is similar to a histogram, but in a distribution, the user does not determine the grouping; instead, data is grouped according to the likelihood that it will occur within the data set. Distributions also allow for analysis of a specific event, whereas a histogram requires events be grouped.
An important type of this distribution is the "normal" distribution. The normal distribution is used to approximate real-world occurrences. If you can make certain assumptions about the occurrence of an event, then you can use the normal distribution to find out the probabilities of that event occurring. Many of the events that are important to business can be approximated using the normal distribution.
Completing this unit should take you approximately 3 hours.