John has two jobs. For daytime work at a jewelry store he is paid $15,000 per month, plus a commission. His monthly commission is normally distributed with a mean of $10,000 and a standard deviation of $2,000. At night he works occasionally as a waiter, for which his monthly income is normally distributed with a mean of $1,000 and a standard deviation of $300. John's income levels from these two sources are independent of each other. John's commission from the jewelry store will be between what two values, symmetrically distributed around the population mean 90% of the time?
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.
John has two jobs. For daytime work at a jewelry store he is paid $15,000 per month, plus a commission. His monthly commission is
John's commission from the jewelry store will be between what two values, symmetrically distributed around the population mean 90% of the time?
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