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You are not logged in. #1 20131003 10:23:12
Normal Distribution and Standard DeviationI have several peole who are using their credit cards each month. The current limit on the credit card is $1500. What they are actually spending is anywhere from $220 to $890. I want to see how the actual card spend is distributed because if for example I see 50% of people spending on average $300 then I may recommend they use a card with a lower limit. If I see there is also another high percentage of people using the card alot (approx $700) then I may put those people on a higher limit credit card. Is a distribution chart something that could help me with that? If so, how would I arrange my data to be able to plot it? #2 20131003 17:20:20
Re: Normal Distribution and Standard DeviationHi cguzzo; In mathematics, you don't understand things. You just get used to them. I have the result, but I do not yet know how to get it. All physicists, and a good many quite respectable mathematicians are contemptuous about proof. #3 20131003 17:30:25
Re: Normal Distribution and Standard Deviationhi cguzzo The more data you collect, the better your model will be but, obviously, at some stage you have to say "Right, I think I've got enough evidence; now I'll try the graph." Once you have a graph post it back here to for an opinion about the resulting distribution. There are limits on image posting for Novices so you may have to post the data instead. Or tell us a link to find it. If the data does conform approximately to a 'Normal' then there is lots of analysis that can be done, but this won't be valid until we know the distribution. So start collecting data Bob You cannot teach a man anything; you can only help him find it within himself..........Galileo Galilei 