Given population parameters for two populations, population 1 has a mean of 500 and a standard deviation equal to 40. Population 2 has a mean of 28,000 and a standard deviation equal to 5,000. Complete parts a and b below. a) Compute the coefficient of variation for each population. The coefficient of variation of population 1 is %. (Round to one decimal place as needed.) %. The coefficient of variation of population 2 is (Round to one decimal place as needed.) b) Which population has data values that are more variable relative to the size of their population mean? A. Population 1 B. Both populations are equally variable relative to their population means. OC. Population 2
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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