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Bell Curve


A probability
distribution curve
with normal
distribution in the data set. In the field of asset management, a bell curve represents a theoretical scenario in which the probability of failure (PoF) has a perfectly symmetrical shape. While this does not represent reality, particularly in the service life of assets, it does provide a useful theoretical reference point. Attributes Listed below are some of the attributes of a bell curve:
Evaluation Listed below are some of the merits of a bell curve:

Fig. Bell curve (in "red") with perfect symmetry compared to skewed curves. Fig. Bell curve indicating the percentage of performers along the probability distribution. 

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