A university surveyed recent graduates of the English department for their starting salaries. Six hundred and forty graduates returned the survey. The average salary was $27,400, with a standard deviation of $2,500. What is the best point estimate of the population mean? Multiple Choice $27,400 $2,500 $640 $64.8
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 university surveyed recent graduates of the English department for their starting salaries. Six hundred and forty graduates returned the survey. The average salary was $27,400, with a standard deviation of $2,500. What is the best point estimate of the population
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$27,400
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$2,500
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$640
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$64.8
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