Not everyone pays the same price with the same model as a car to figure illustrate a normal distribution for the price pay for a particular model of a new car the main is 18,000 and the standard deviationis 1000 used to 68 -95 -99.7 rule to find what percentage of buyers pay between 16,000 and 20,000
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
Not everyone pays the same price with the same model as a car to figure illustrate a
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