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2 cards from this section. Quick, good the night before a test.
What characterizes a lognormal distribution?
Consider how the logarithm relates to normality.
Give an example where lognormal distribution can be applied.
Think of variables that cannot be negative.
What is a defining characteristic of a lognormal distribution?
Think about what makes lognormal unique.
A lognormal distribution can take negative values.
Recall the definition.
A company claims that their product's lifetime follows a lognormal distribution. The average lifetime of their products is 10 years, and the coefficient of variation is 0.4. What does this imply about the distribution?
Consider what a high coefficient of variation indicates.
If you are given a dataset and want to test if it is lognormally distributed, explain the process you'd use.
Focus on statistical tests for normality.
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