As of TODAY, let's say that my data has a 5-day Mean of 10 with a Standard Deviation of 2 and thus 2 Standard Deviations of 4. Statistically speaking, with approximately 95% certainty, my data should fall between 14 and 6. Or should it?--hence my question. For example, what if as of TODAY my data ALSO has a 10-day Mean of 14 with a Standard Deviation of 3 and thus 2 Standard Deviations of 6. This tells me that my data should fall between 20 and 8 AS OPPOSED to 14 and 6. Is there a way to measure which one of these Means is more important for purposes of defining outer boundaries for my data TOMORROW. Is it some kind of "NORMAL DISTRIBUTION" test that I should perform.
In any case, without using Mathematical symbols (because I'm not completely familiar with them), could you please explain to me, step by step, how to determine which Mean is more important?
2006-11-26
15:15:22
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6 answers
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asked by
Anonymous
in
Mathematics