Explain whether each of the following constitutes data col- lected from a population or a sample. a. The number of pizzas ordered on Fridays during 2015 at all of the pizza parlors in your town. b. The dollar values of auto insurance claims filed in 2015 for 200 randomly selected policies. c. The opening price of each of the 500 stocks in the S&P 500 stock index on January 4, 2016. d. The total home attendance for each of the 18 teams in Major League Soccer during the 2015 season. e. The living areas of 35 houses listed for sale on March 7, 2015 in Chicago, Illinois.
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.
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