What is empirical rule

Financen31410 Jul, 2021Other

The Empirical Rule is basically the statistical rule that tells us that all the facts and figures will eventually fall under three of the standard deviations of the mean which is denoted by ? (and refers to as standard deviation), and where we calculate the mean by average of all of the given numbers that are available with us. This is also referred as Three Sigma Rule or the Rule of 68-95-99.7, as it comprises of the 3 set ranges of the data, which are as: