Data from 2005 for various age groups show that for each $100 increase in the median weekly income for whites, the median weekly income of blacks increases by $105. Also, for workers of ages 25 to 54 the median weekly income for whites was $676 and for blacks was $527.† (a) Let W represent the median weekly income for whites and B the median weekly income for blacks, and write the equation of the line that gives B as a linear function of W. B = (b) When the median weekly income for whites is $720, what does the equation in (a) predict for the median weekly income for blacks?
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.
Data from 2005 for various age groups show that for each $100 increase in the median weekly income for whites, the median weekly income of blacks increases by $105. Also, for workers of ages 25 to 54 the median weekly income for whites was $676 and for blacks was $527.†
(b) When the median weekly income for whites is $720, what does the equation in (a) predict for the median weekly income for blacks?
$
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
