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Math Help - Distribution of Spread - please help

  1. #1
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    Distribution of Spread - please help

    What practical applications does knowing the spread of a distribution have? When would a large/small spread be good or bad? Please give examples.
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  2. #2
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    Re: Distribution of Spread - please help

    If this were, say, a gambling game, then a small spread would mean the result would be very close to the mean- the "odds" of getting the right result are high while a large spread would mean they were low. If a manufacturer want the size of an object to be at, or close to, a given value, a small spread would mean most are close while a large spread would mean many are well of the desired size. In general a small spread means that there is less "chance" involved than a large spread.
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