ans b The following table shows the distribution of daily profits made by a local supermarket over a 30-day period. Table 1 Profits (Dollars) Number of days 10-24 2 25-39 6 40-54 8 55-69 11 70-84 3 (ii) Use the table above to estimate the following a. The mean of the distribution b. The median of the distribution
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.
ans b
The following table shows the distribution of daily profits made by a local supermarket over a
30-day period.
Table 1
Profits
(Dollars)
Number of days
10-24 2
25-39 6
40-54 8
55-69 11
70-84 3
(ii) Use the table above to estimate the following
a. The
b. The
c. The sample variance of the distribution
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