What is the Lognormal Distribution and How does it Help Me

podcast episode with speaker Chris Jackson

Some of you might have heard of the ‘bell curve.’ Some of you might have heard that the ‘bell curve’ is sometimes called the ‘normal distribution.’ There is a reason it is called normal … but that is not always obvious. But then there is the ‘lognormal distribution.’ What is this? … and how does it relate back to the ‘bell curve?’ There is a really good reason for this link. And the good thing is that all you need is just a little bit of knowledge about how something breaks (and is repaired) to help use the lognormal distribution to help you make lots of important decisions … easily!
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