because of staffing decisions, managers of the gibson-Marimont hotel are interested inthe variability in the number of rooms occupied per day during a particular season of theyear. a sample of 20 days of operation shows a sample mean of 290 rooms occupied perday and a sample standard deviation of 30 rooms.a. what is the point estimate of the population variance?
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.
because of staffing decisions, managers of the gibson-Marimont hotel are interested in
the variability in the number of rooms occupied per day during a particular season of the
year. a sample of 20 days of operation shows a sample mean of 290 rooms occupied per
day and a sample standard deviation of 30 rooms.
a. what is the point estimate of the population variance?
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