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    				| 1. | 
                                    Define standard normal variable and write its probability density function. | 
                            
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Answer»  If X is normal variable with mean = µ and standard deviation = σ, then the random variable Z = \(\frac{X−μ}σ\) is called the standard normal variable. It is free from units of measurement. The probability density function of Z is as follows : f(z) = \(\frac{1}{\sqrt{2π}}e^{-\frac{1}{2}z^2}\), – ∞ < z < ∞  | 
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