In a random sample of 7 cell phones, the mean full retail price was $539.80 and the standard deviation was $193.00. Further research suggests that the population mean is $425.21. Does the t-value for the original sample fall between −t0.99 and t0.99? Assume that the population of full retail prices for cell phones is normally distributed. The t-value of t=nothing ▼ does does not fall between −t0.99 and t0.99 because t0.99=nothing. (Round to two decimal places as needed.)
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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