Listed below are prices in dollars for one night at different hotels in a certain region. Find the range, variance, and standard deviation for the given sample data. Include appropriate units in the results. How useful are the measures of variation for someone searching for a room? 225169118210252192270238 The range of the sample data is____ (dollars, dollars^2, nights, night^2) The standard deviation of the sample data is____ (dollars, dollars^2, nights, night^2) The variance of the sample data is_____(dollars, dollars^2, nights, night^2) How useful are the measures of variation for someone searching for a room? A. The measures of variation are very useful because a person does not want to buy a room where the variation is too low. B. The measures of variation are not very useful because when searching for a room, low prices, location, and good accommodations are more important than the amount of variation in the area. C. The measures of variation are not very useful because the values are nominal data that do not measure or count anything, so the resulting statistics are meaningless. D. The measures of variation are very useful because a person does not want to buy a room where the variation is too high
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.
Listed below are prices in dollars for one night at different hotels in a certain region. Find the
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The range of the sample data is____ (dollars, dollars^2, nights, night^2)
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