Finance Info System Mean 49,140.00 Mean 24 52,800.00 Standard Error $4 1,234.37 Standard Error 1,572.35 Median (Q2) 2$ 49,200.00 Median (Q2) 51,780.00 Mode 51,300.00 Mode #N/A Standard Deviation $4 5,656.60 Standard Deviation 2$ 6,289.42 Sample Variance 31997160 Sample Variance 39556800 Q1 45,150.00 Q1 49,530.00 Q3 $4 51,300.00 03 56,535.00 Range 24,600.00 Range 26,400.00 Minimum $4 40,200.00 Minimum 38,760.00 Maximum 64,800.00 Maximum $ 65,160.00 2$ Sum 1,031,940.00 Sum 844,800.00 Count 21 Count 16
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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