A company sets different prices for a particular DVD system in eight different regions of the country. The accompanying table shows the numbers of units sold and the corresponding prices (in dollars). Plot the data using a scatter plot with sales as the dependent variable and price as the independent variable.Sales 420 380 350 400 440 380 450 420Price 104 195 148 204 96 256 141 109
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.
A company sets different prices for a particular DVD system in eight different regions of the country. The accompanying table shows the numbers of units sold and the corresponding prices (in dollars). Plot the data using a
Sales 420 380 350 400 440 380 450 420
Price 104 195 148 204 96 256 141 109
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