From the course: Everyday Statistics, with Eddie Davila

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The ubiquitous bell curve

The ubiquitous bell curve

From the course: Everyday Statistics, with Eddie Davila

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The ubiquitous bell curve

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- [Instructor] Distribution curves, you probably see them everywhere. And if you're in the business world, you may see one or more everyday. So much information in such a simple tool. Let's take a look at some of the very basic things we can learn from a distribution chart. We'll begin with some data, salaries for 40 individuals. When we turn this data into a histogram, here's what we great. The shape of the histogram would mirror the distribution chart. The distribution chart provides us a picture of how the data is distributed. The horizontal axis represents salary. The vertical axis is the number of people at that salary. 10 people get paid $100,000 per year. Eight people get $75,000 per year and another eight get paid $125,000. The vertical axis also represents the mean salary of all 40 people. In this case, we have a symmetrical distribution, 15 people below $100,000, 15 people above $100,000, and 10 at…

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