According to the Empirical Rule, what percentage of values lie within 1 standard deviation of the mean?

The Empirical Rule, also known as the 68-95-99.7 rule, is a statistical principle that applies to normally distributed data. According to this rule, approximately 68% of the data values in a normal distribution lie within one standard deviation of the mean. This represents the range wherein most of the data points are concentrated, reflecting the clustering of values around the average in a bell-shaped curve.

This concept is essential in risk management and other fields relying on statistical analysis, as it helps practitioners understand the distribution of data and the likelihood of outcomes occurring within certain ranges. By recognizing that about 68% of data falls within one standard deviation, professionals can assess risk and make informed decisions based on the likelihood of various results happening within expected parameters.

Thus, the correct choice reflects this key understanding of normal distribution, allowing users to apply this knowledge in practical scenarios involving data analysis and risk assessment.