Here are the summary statistics for the weekly payroll of a small company: iowest salary $300, mean salary $900, median = $800, range = $1200, IQR = $800, first quartile = $350, standard deviation = $350. a) Do you think the distribution of salaries is symmetric, skewed to the left, or skewed to the right? Explain why. O A. The distribution is skewed to the right because the mean is greater than the median. O B. The distribution is symmetric because the mean is greater than the median. O C. The distribution is skewed to the left because the mean is greater than the median. O D. There is not enough information to estimate the shape of the distribution. b) Between what two values are the middle 50% of the salaries found? The middle 50% of the salaries are found between $ and $. c) Suppose business has been good and the company gives each employee a $100 raise. Tell the new value of each of the summary statistics. After everyone receives a $100 raise, the new lowest salary is $. After everyone receives a $100 raise, the new mean salan in s
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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