GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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68%
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85%
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95%
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99.7%
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Detailed explanation-1: -The empirical rule (also called the “68-95-99.7 rule") is a guideline for how data is distributed in a normal distribution. The rule states that (approximately):-68% of the data points will fall within one standard deviation of the mean.-95% of the data points will fall within two standard deviations of the mean.
Detailed explanation-2: -A normal distribution has some interesting properties: it has a bell shape, the mean and median are equal, and 68% of the data falls within 1 standard deviation.
Detailed explanation-3: -The Empirical Rule states that 99.7% of data observed following a normal distribution lies within 3 standard deviations of the mean. Under this rule, 68% of the data falls within one standard deviation, 95% percent within two standard deviations, and 99.7% within three standard deviations from the mean.