For XYZ bank, one of the items to monitors is the credit balance of credit cards. One possible analysis would be to determine if the average credit card balance depend upon the type of credit card used with controling for customers. Under consideration there are 4 types of credit cards. numbers of customers are 27 in each type (number of raws). the degree of freedom for errors (within) is < Question 18 of 25 A Moving to another question will save this response. Close Window
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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