Consider the partial data set in the table represent online hours spend shopping by age and income. The average and standard deviation for the full data set are $47,667 and $14,292 respectively. Using z-scores to standardize the observations, What is the average standard deviation of the income for the three provided? ID Income Age Online hours 2201 62000 48 2 2202 58000 52 4 2203 53000 44 5 A. 1.003 B. 0.7320 C. 0.2410 D. 0.6997
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.
Consider the partial data set in the table represent online hours spend shopping by age and income. The average and standard deviation for the full data set are $47,667 and $14,292 respectively. Using z-scores to standardize the observations, What is the average standard deviation of the income for the three provided?
| ID | Income | Age | Online hours |
| 2201 | 62000 | 48 | 2 |
| 2202 | 58000 | 52 | 4 |
| 2203 | 53000 | 44 | 5 |
A. 1.003
B. 0.7320
C. 0.2410
D. 0.6997
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