he annual income of residents in a county is $42,000, with a standard deviation of $10,000. (b) What is the percentage that a randomly chosen resident has an income of less than $22,000?
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.
The annual income of residents in a county is $42,000, with a standard deviation of $10,000. (b) What is the percentage that a randomly chosen resident has an income of less than $22,000?
Normal probability is a type of continuous probability distribution that can take random values on the whole real line. The main properties of the normal distribution are :
- It is continuous (and as a consequence, the probability of getting any single, specific outcome is zero)
- It has a "bell shaped" distribution (and that is where the "Bell-Curve" name comes along)
- The normal distribution is determined by two parameters: the population mean and population standard deviation
- It is symmetric with respect to its mean.
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