6. The Statistics Department of MYK University is conducting a study to determine how long it takes its graduates to find a job. A sample of 36 graduates was surveyed and it was found that the average time it took a graduate to find a new job was 3.5 months with a standard deviation of 1.5 months. a. Construct a 99% confidence interval for the true mean time for the graduates of this department to find a job. b. If you will be conducting a similar study using the 95% confidence level and a margin of error equal to 0.5 months, how many graduates should you interview?
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.
the statistics..
Step by step
Solved in 2 steps with 3 images
