8. The following lists the costs of name brand drugs and the corresponding generic drug before insurance. We are interested in testing to see if there is a significant difference in the costs. Drug Name Brand Drug Generic Drug 1 1262 1964 2 4108 1755 3 1864 2302 4 1829 1682 2059 1851 1020 3050 Find d. b. Find sa. а. С. Find the test statistic for this type of data.
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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