STAT 101 Lecture Notes - Lecture 13: Heavy-Tailed Distribution, Normal Distribution
Document Summary
Stat 101 - introduction to business statistics - lecture 13: quantiles, higher moments, & Identify the value x, associated with the event p(x x) = 0. 8. Find z in the table given the probability. Now solve for x (since you"re given mean and sigma) From the z-tables (right hand table), p(z 0. 8416) = 0. 8. The value 0. 8 is inside the table, in the third column under p(z z) and the value. 0. 8416 is in the first column of the same row. Undoing the z-score gives: x = 0. 8416 10 + 268 = 276. 4. That is a little over a week past the due date (268 days). What we have just done is to find the 80th percentile of the distribution. The the p th quantile of the distribution is defined as the value x such that. P( x x ) = p.
