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Population μ=3/5 and σ=1/10, how common are values between 2/5 and 1?
in Data Science & Statistics by Bronze Status (8,638 points) | 76 views

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μ = 3/5 = 0.6;    σ = 1/10 = 0.1

2/5 = 0.4 = 0.6 - 0.2 = 0.6 - (2 x 0.1) = μ - 2σ

1 = 0.6 + 0.4 = 0.6 + (4 x 0.1) = μ + 4σ

The value (2/5) is two (2) standard deviations below the mean, and 1 is four (4) standard deviations above the mean. We would expect 97.5% (i.e. 34% + 13.5% + 50%) probability of a value occurring between 2/5 and 1. This probability is between is between 50% and 100% and therefore a value within the given range would be very likely.
by Diamond (40,336 points)

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