2. A book club classifies members as heavy , medium or light purchasers, and separate mailings are prepared for each of these groups. Overall, 20% of the members are heavy purchasers, 30% medium and 50% Ilight. A member is not classified into a group until 18 months after joining the club, but a test is made of the feasibility of using the first 3 months' purchases to classify the member. The following data where obtained: 1" 3 months Неavy Medium Light purchases 15 60 1. 10 30 20 30 40 15 3+ 55 15 If the member purchase no books in the first 2 months, what is the probability that the member is a light purchaser?
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
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