A new dataset describing employee salaries is received by a company. A colleague wonders whether a variable follows a Gaussian distribution. Which of the following plots would demonstrate this?
pg 123 CBDA guide: Probability distributions: Distribution of a variable refers to the probability of encountering different values around the mean value. For example, daily sales numbers and their associated probabilities in a year, if plotted, would look like a probability distribution graph. Probability distribution provides a lot of information about how a variable
behaves. Knowledge of various distribution types is an essential element of analytical models. The distribution graphs are best represented as visuals as they may be used for explaining the behavior of different variables.
Research: A Normal probability plot (or Q-Q plot) is used to assess if a dataset follows a normal distribution. It compares the quantiles of the data against the quantiles of a standard normal distribution. If the points on the plot fall approximately along a straight line, the data likely follows a Gaussian distribution.
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Rabbitsfoot
5 months, 2 weeks ago