Given the following information: 50 poker plays in a sample Mean earnings of $31 per game Standard deviation of earnings in the sample of $3.50 Find the 99% interval estimate for poker player earnings. $25.00 to $35.00 $29.81 to $32.19 $1.19 $29.67 to $32.33
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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Given the following information:
- 50 poker plays in a sample
- Mean earnings of $31 per game
- Standard deviation of earnings in the sample of $3.50
Find the 99%
interval estimate for poker player earnings.$25.00 to $35.00
$29.81 to $32.19
$1.19
$29.67 to $32.33
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