Basics of ML & AL Week 2 Challenge

1)Calculate all 4 business moments using pen and paper for the below data set?
Kindly find the attached Problem1-1 images

2)What is the significance of expected value when simple mean (Sum of all observations/number of observations) is already in place.
Expected value is used to find the mean on probility distributed values which gives us the long term mean values.
Mean or Average is used to calculate on given sample.
Mean is just the single value from a set of collected data whereas expected value is a weighted average of the values in a set of data.

3)Having skewness in the curve considered to be bad in the analysis?
Having Skewness in analysis says the measure of lack of symmetry in the curve which help us to understand the number of outliers in a curve.
Outliers affect the statistical model performance, if there is a skewness in a data we need to convert the data to normal distribution and perform analysis.
Also outliers limits us to try different statistical models, converting it to normal distribution would help us to try different statistical models.

4)Evaluate the probabilities for continuous normal distribution with given mean = 680 and standard deviation = 31
Kindly find the attached Problem4-1,Problem4-2 images

5)Explain the curve on the right side
This is a normal distributed data, in which
68.2% of data are within 1 standard deviation of mean
95.4% of data are within 2 standard deviation of mean
99.6% of data are within 3 standard deviation of mean

from the right the %s would be half from the above
34.1% of data are within 1 standard deviation of mean
47.7% of data are within 2 standard deviation of mean
49.8% of data are within 3 standard deviation of mean