The assumption of normality was not a convenience and was not primarily based on knowledge. It needed to do with the applicability of the math to weapons analysis. When the Navy stopped paying, Wall Street started paying. Wall Street started paying for particular tasks, and normality and log-normality survived despite mathematical arguments in the 1960s that it couldn’t be. Let us assume the article and the video are incorrect. The end result will find yourself being the same as the assumption of normality is a stronger assumption than is required. At a deep degree, the problem is the symmetry of errors. Symmetry and help on the reals are ample to arrive at a Cauchy distribution. The ratio of any elliptically distributed variables is the Cauchy distribution. The ratio of two normals, two Student’s distributions, two Cauchy distributions will end in a Cauchy distribution below the development used in the article and video.
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