Table of contents
- 1. Introduction to Statistics53m
- 2. Describing Data with Tables and Graphs2h 1m
- 3. Describing Data Numerically1h 48m
- 4. Probability2h 26m
- 5. Binomial Distribution & Discrete Random Variables2h 55m
- 6. Normal Distribution & Continuous Random Variables1h 48m
- 7. Sampling Distributions & Confidence Intervals: Mean1h 17m
- 8. Sampling Distributions & Confidence Intervals: Proportion1h 20m
- 9. Hypothesis Testing for One Sample1h 8m
- 10. Hypothesis Testing for Two Samples2h 8m
- 11. Correlation48m
- 12. Regression1h 4m
- 13. Chi-Square Tests & Goodness of Fit1h 30m
- 14. ANOVA1h 4m
3. Describing Data Numerically
Interpreting Standard Deviation
Struggling with Statistics for Business?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
A sample of 500 random adult books in a library has an average of 312 pages with a standard deviation of 26 pages. According to the Empirical Rule of Standard Deviation, find the central range of page lengths containing 95% of the books in the sample.
A
(312,364)
B
(260,312)
C
(260,364)
D
(286,338)

1
Identify the key components of the problem: the sample mean (312 pages), the standard deviation (26 pages), and the percentage of data to be included in the central range (95%).
Recall the Empirical Rule, which states that for a normal distribution, approximately 95% of the data falls within two standard deviations (±2σ) of the mean (μ).
Calculate the lower bound of the range by subtracting 2 times the standard deviation from the mean: Lower Bound = μ - 2σ. In MathML:
Calculate the upper bound of the range by adding 2 times the standard deviation to the mean: Upper Bound = μ + 2σ. In MathML:
Combine the lower and upper bounds to express the central range containing 95% of the books: (Lower Bound, Upper Bound).
Watch next
Master Empirical Rule of Standard Deviation and Range Rule of Thumb with a bite sized video explanation from Patrick
Start learning