Fresh Mart QQ's profit on each delivery is estimated by RM P, where the random variable P has mean u and variance 1.92. According to previous record, the value of u used to be 0.85. Manager suspects that this value has increased. In order to test at the 5% significance level whether the value of u has increased, a random sample of 50 delivery transaction is chosen. Assume the variance of P is unchanged. Given that Ep 59. Find the unbiased estimates of the population mean. Stating the null and alternative hypotheses, test at 5% significance level on whether the manager's suspicion is true. The alternative hypothesis for a test is stated as below: H:u # 30 ate the null hypothesis and determine whether this test is one-tail test or two-
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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