a. Test if the mean weight of cereal in a cereal box differs from 18 ounces. O Hg: H- 18; HA: H• 18 O Hg: H 2 18; HA: P< 18 O Hg: Hs 18; HA: H > 18 b. Test if the stock price increases on more than 60% of the trading days. O Hạ: Ps 0.6; HA: p> 0.60 O Hạ: P2 0.6e; HA: P< 0.60 O Hg: P- 0.60; HA: P 0.60
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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