Define and explain the 34-14-2 approximation, provide an example.
What will be an ideal response?
Ans: The 34-14-2 approximation is used to generate intuitions about the proportion of a normal distribution falling within given intervals. The 34-14-2 approximation summarizes the approximate proportion of normal distributions in intervals that are one standard deviation (?) wide. Approximately 34% of a normal distribution falls between ? and ?+?; approximately 14% of a normal distribution falls between ?+? and ?+2?; approximately 2% of a normal distribution lies above ?+2?.
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