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Normal distribution.

Hey Guys,

This week we are covering one of the most used distributions in empirical studies, Normal distribution. However as you read in your book, we need to have a tool to assess normality in a more robust way, page 66. Namely, you could use a normal quantile plot to assess normality. For example, the following Normal Quantile plot demonstrates an approximate normality for some distribution as we can draw a 45 degree line to check if points fall around this line:

In this assignment, we continue the idea of normality and departures from it. Example 48 on page 69 gives the distribution of ticket prices from a web sporting events ticket facilitator, StubHub. The following figure is the histogram of 2015 NCAA Women’s Semifinal sales per seat.

Given the interesting distribution, a trimodal distribution in the following histogram, discuss how a normal quantile plot looks for a distribution like this one. Draw a plot similar to the above plot and explain departures from normality.