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If the μ is .02 and the σ is .005, how common is a value between .005 and .01?
in Data Science by Bronze Status (8,600 points) | 53 views

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µ = 0.02;    σ = 0.005

0.01 = 0.02 - 0.01 = 0.02 - (2 x 0.005) = 0.02 - (2 x standard deviation)

0.005 = 0.02 - 0.015 = 0.02 - (3 x 0.005) = 0.02 - (3 x standard deviation)

The value 0.01 is two (2) standard deviations below the mean, and 0.005 is three (3) standard deviations below the mean. We would expect there to be about a 2.5% probability of a value occurring between 0.005 and 0.01. Therefore a value within the given range would be rare.
by Silver Status (30,806 points)

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