Important model in statistical analysis

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1. Suppose you are interested in an investment with an uncertain return. You think that the return could be modeled as a normal random variable with mean $2000 and standard deviation $1500. What is the probability that the investment will end up with a loss? What is the probability that the return will be greater than $3000?

2. Normal Distribution Model is a very important model in statistical analysis. To use this model, data have to be normally distributed. What does that mean? What are the assumptions that your data need to satisfy before you can apply the Normal Distribution Model. Write a one to two pages summary paper about the assumptions. Reference your sources using Harvard citation style.

Reference no: EM132134089

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