bution.The distribution of the value of transaction accounts is an approximately symmetrical distribution.O The distribution of the value of transaction accounts is a left-skewed distribution.(b) The mean value of retirement accounts per household, which includes Individual Retirement Account (IRA) balancesand certain employer-sponsored accounts, was $94,500, but the median value was $0. What does a median of $0 say aboutthe percentage of households with retirement accounts?O At least 75% of households have a retirement account.O There is not enough information to make any reliable estimate on the percentage of households with retirementаccounts.O Approximately 50% of households have a retirement account.O At least 50% of households do not have a retirement account.Question Source: Moore, The Basic Practice Of Statistics, 8e | Publisher: W.H. Freem| helpabout usprivacy policy terms of usecontact uscareersD00000 F4F10F11FI2F5F6F7F8F9 Question 9 of 10 >Once every three years, the Board of Governors of the Federal Reserve System collects data on household assets andliabilities through the Survey of Consumer Finances (SCF). Some results from the 2013 survey are provided.(a) Transaction accounts, which include checking, savings, and money market accounts, are the most commonly held typeof financial asset. The mean value of transaction accounts per household was $270,000, and the median value was$94,500. Which statement explains the differences between the two measures of center?O The distribution of the value of transaction accounts is a uniform distribution.O The distribution of the value of transaction accounts is a right-skewed distribution.O The distribution of the value of transaction accounts is an approximately symmetrical distribution.O The distribution of the value of transaction accounts is a left-skewed distribution.(b) The mean value of retirement accounts per household, which includes Individual Retirement Account (IRA) balancesond oortoin omplover ononcorad o0ontaw 4 500 but the mndion volua wog CO What doog o modion of C0aOU oboutQuestion Source: Moore, The Basic Practice Of Statistics, 8e | Publisher: W.H. Freemarabout usprivacy policyterms of usecontact us helpcareers

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Description: bution.The distribution of the value of transaction accounts is an approximately symmetrical distribution.O The distribution of the value of transaction accounts is a left-skewed distribution.(b) The mean value of retirement accounts per household,

a) Mean = 270000 Median = 94500 ==================== b) Mean = 94500 Median = 0

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(a) Transaction accounts, which include checking, savings, and money market accounts, are the most commonly held type of financial asset. The mean value of transaction accounts per household was $270,000, and the median value was $94,500. Which statement explains the differences between the two measures of center? The distribution of the value of transaction accounts is a uniform distribution. The distribution of the value of transaction accounts is a right-skewed distribution. The distribution of the value of transaction accounts is an approximately symmetrical distribution. O The distribution of the value of transaction accounts is a left-skewed distribution. (b) The mean value of retirement accounts per household, which includes Individual Retirement Account (IRA) balances

(a) Transaction accounts, which include checking, savings, and money market accounts, are the most commonly held type of financial asset. The mean value of transaction accounts per household was $270,000, and the median value was $94,500. Which statement explains the differences between the two measures of center? The distribution of the value of transaction accounts is a uniform distribution. The distribution of the value of transaction accounts is a right-skewed distribution. The distribution of the value of transaction accounts is an approximately symmetrical distribution. O The distribution of the value of transaction accounts is a left-skewed distribution. (b) The mean value of retirement accounts per household, which includes Individual Retirement Account (IRA) balances

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Concept explainers

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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Question

bution.
The distribution of the value of transaction accounts is an approximately symmetrical distribution.
O The distribution of the value of transaction accounts is a left-skewed distribution.
(b) The mean value of retirement accounts per household, which includes Individual Retirement Account (IRA) balances
and certain employer-sponsored accounts, was $94,500, but the median value was $0. What does a median of $0 say about
the percentage of households with retirement accounts?
O At least 75% of households have a retirement account.
O There is not enough information to make any reliable estimate on the percentage of households with retirement
аccounts.
O Approximately 50% of households have a retirement account.
O At least 50% of households do not have a retirement account.
Question Source: Moore, The Basic Practice Of Statistics, 8e | Publisher: W.H. Freem
| help
about us
privacy policy terms of use
contact us
careers
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