just need the standard deviation for both questions
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.
I just need the standard deviation for both questions
1. The first prize for a raffle is 5,000 dollars (with a
2.You have 100 dollars and can invest into a stock. The returns are volatile and you may get either $120 with probability of 0.4, or $90 with probability 0.6. What is the expected gain/loss of your investment? Find the standard deviation
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