4. The age and annual salary of a random sample of 20 University graduates in a town is shown below. 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 Age in years| 25 | 45 | 32 28 | 56 | 46 | 39 | 28 61 | 53 43 58 62 56 | 65 | 43 85 | 72 Person Salary $1000s | 36 | 51 Person 11 | 12 | 13 | 14 | 15 16 17 | 18 | 19 | 20 56 48 25 30 | 31 | 23 | 37 | 27 | 41 | 51 Salary $1000s | 61 | 55 35 | 42 | 60 | 34 | 48 | 39 | 57 10 Age in years (a) Draw a scatter plot to display the relationship between age and annual salary. (b) Insert an estimated line of best fit on the scatter plot and determine the equation of this line. You may use your calculator to find the exact line of best fit or you can use your graph line.
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.
Step by step
Solved in 4 steps with 2 images
