(c) Find the 30th percentile of this dataset. (d) Give the mean, variance, and standard deviation. Endowment FY2018 (millions of dollars) Institution University of Michigan Northwestern University University of Chicago Ohio State University University of Minnesota University of Wisconsin foundation Michigan State University University of Iowa University of Cincinnati Iowa State University Oklahoma State University Medical College of Wisconsin Oberlin College Marquette University Loyola University of Chicago University of Wyoming Kansas State University Illinois Institute of Technology Hope College Rockhurst University University of Detroit Mercy 11901.76 11087.659 7928.485 5211.434 3717.476 2985.251 2907.767 1500.546 1367.426 1063.772 983.881 930.961 905.947 668.567 643.806 513.201 480.375 235.271 225.656 33.199 58.674
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.
Can you do (c) and (d) of this dataset?
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