Determining Normal Distribution
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1) Can you kindly explain what the confidence % truly means at the bottom of the descriptive statistics relative to the data?
2) How would I determine if the accuracy of the data would improve if there were more data points? In other words, can the number of data points somehow determine the confidence interval for the data????
3) How would I determine whether the data columns represent a normal or log normal distribution???? How do I produce a distribution diagram or curve?
4) How would I produce a probability graph for any column of data ---- i.e. plotting concentration of the compound on the x-axis and probability on the y-axis ---- how is this done? We are supposed to understand the significance of outlier data here?
5) How do I determine the percentile ranking of the data? In other words, how do I determine what percentile the data points lie within?
6) I've seen confidence intervals described by what looks like a box & whisker plot ----- but how would I determine or plot the confidence intervals and then determine the upper and lower control limits based on the data?
7) How can or does the confidence interval for a data set improve?? What has to happen to the data for the CI to improve? And what bearing does the outlier data have?
I know this is a big task ---- but can you please explain and show the example graphs that would be associated with these questions above
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This solution answer the questions related with normal distribution.
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- MBA, Indian Institute of Finance
- Bsc, Madras University
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