Example 4.1.11. The most recent appraisals of the 10 houses in a Clearview city block, rounded to the nearest thousand dollars, and sorted, are: [$75K, $96 K, $107K, $110K, $110K, $118K, $130K, $135K, $150K, $520K]. Find the median value of a house in that block.
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.
![Example 4.1.11. The most recent appraisals of the 10 houses in a Clearview
city block, rounded to the nearest thousand dollars, and sorted, are:
[$75K³, $96K, $107K, $110K, $110K, $118K, $130K, $135K, $150K, $520K].
Find the median value of a house in that block.
This data set is already sorted, so we can skip that step. Note that unlike
the previous example, this time there is no point in the middle, since the size
of the data set is even. So, we take the two points in the middle and average
them. That is, the median for this data set is:
$110K + $118K
Median
$114K.
2](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F627d6e4f-ee6d-44a0-8099-b93fecb9fce7%2F825ddeda-01bf-431a-b28e-72a862f1547b%2F797ey0k_processed.jpeg&w=3840&q=75)
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