Cris Turlock owns and manages a small business in San Francisco, California. The business provides breakfast and brunch food, via carts parked along sidewalks, to people in the business district of the city. Being an experienced businessperson, Cris provides incentives for the four salespeople operating the food carts. This year, she plans to offer monetary bonuses to her salespeople based on their individual mean daily sales. Below is a chart giving a summary of the information that Cris has to work with. (A "sample" is a collection of daily sales figures, in dollars, from this past year for a particular salesperson.) Groups Sample size Sample mean Sample variance Salesperson 1 143 204.8 2382.8 Salesperson 2 97 209.9 2501.3 Salesperson 3 53 218.3 2461.6 Salesperson 4 95 205.8 2373.9
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.
Cris Turlock owns and manages a small business in San Francisco, California. The business provides breakfast and brunch food, via carts parked along sidewalks, to people in the business district of the city.
Being an experienced businessperson, Cris provides incentives for the four salespeople operating the food carts. This year, she plans to offer monetary bonuses to her salespeople based on their individual mean daily sales.
Below is a chart giving a summary of the information that Cris has to work with. (A "sample" is a collection of daily sales figures, in dollars, from this past year for a particular salesperson.)
| Groups | Sample mean | Sample variance | |
|---|---|---|---|
| Salesperson 1 | 143 | 204.8 | 2382.8 |
| Salesperson 2 | 97 | 209.9 | 2501.3 |
| Salesperson 3 | 53 | 218.3 | 2461.6 |
| Salesperson 4 | 95 | 205.8 | 2373.9 |
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