8. Cigarette Taxes The increases ( in cents ) in cigarette taxes for 17 states in a 6 - month period are 60 , 20 , 40 , 40 , 45 , 12 , 34 , 51 , 30 , 70 , 42 , 31 , 69 , 32 , 8 , 18 , 50 Use the range rule of thumb to estimate the standard deviation . Compare the estimate to the actual standard deviation . 62 ; 332.4 ; 18.2 ; using the range rule of thumb , s = 15.5 . This is close to the actual standard deviation of 18.2 . Source : Federation of Tax Administrators . 3-35
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.
8. Cigarette Taxes The increases ( in cents ) in cigarette taxes for 17 states in a 6 - month period are 60 , 20 , 40 , 40 , 45 , 12 , 34 , 51 , 30 , 70 , 42 , 31 , 69 , 32 , 8 , 18 , 50 Use the
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
