oboloo Glossary

Normal Distribution

oboloo Glossary

Normal Distribution

Normal Distribution is a statistical concept that describes the probability of observing certain values across a given range. It’s often used to determine how data points are distributed, and can help businesses make more informed decisions. In the simplest of terms, this distribution occurs when the average value of an item or set of items remains constant regardless of the number of measurements taken. As a result, it’s possible to predict what values are likely to appear in any given sample size. This is an incredibly useful tool for businesses wanting to better understand large datasets and make more accurate decisions.