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Normality and Business Research

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1. R.C. Geary wrote some 70 years ago that "Normality is a myth. There never was, is, nor will there ever be a Normal distribution". What do you think he meant and what relevance does it have to your work?(Read the Week 2 Lecture 1 before answering)

2.How do you feel that the inferential statistical technique of Hypothesis Testing can be used by managers to make better business decisions? How does or can your organization use this statistics concept as it conducts business research and makes decisions?

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In my opinion, perfect normality in populations is something that can never be achieved. Most populations can only approach the normal, bell-shaped curve, some more so than others. Normal distribution is so popularly used in statistics because most populations in practical life follow the bell shaped curve - starting from the very bottom, then reaching a peak, and then dropping back to the bottom. The mean and standard deviations would sometimes be inconsistent of course, but statistics provides a mechanism by which any normal distribution can be changed into the standard normal distribution with mean zero and standard deviation 1, using ...

Solution Summary

Normality and business research is discussed. Whether Normality is a myth is examined.