Interpreting Normal Values
- In excel, list the values of an electric bill for the last 12 months on one column.
- Find the sample mean and sample standard deviation of your data.
- Pick three bills from the last 12 months and change the values into z-scores. What does the z-score tell you about that particular month?
Analysis
- Between what two values would be considered a normal bill? Remember, being within 2 Standard Deviations is considered normal.
- Are any of your bills in the last 12 months unusual? Very unusual?
- Are there times when you would accept an “unusual” bill? Explain
Thanks
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