Listed below are the amounts(in millions of dollars) collected from parking meters by a security company in your city in the previous 18 months, alongside the average amounts from another company. These data were used to convict 5 members of the security company in your city of grand larceny. (photo included) What are the means and median for each company? (Type integers or decimals rounded to two decimal places as)
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 the amounts(in millions of dollars) collected from parking meters by a security company in your city in the previous 18 months, alongside the average amounts from another company. These data were used to convict 5 members of the security company in your city of grand larceny. (photo included)
- What are the
means andmedian for each company? (Type integers or decimals rounded to two decimal places as)
- What are the
 alt="### Monthly Response Times of Two Companies
This table presents the average response times (in minutes) over an 18-month period for two companies: a Security Company and another unnamed company referred to as "Other Company."
| Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |
|----------------------|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|
| **Security Company** | 1.1 | 1.1 | 1.3 | 1.1 | 1.1 | 1.7 | 1.7 | 1.2 | 1.2 | 1.6 | 1.6 | 1.2 | 1.2 | 1.2 | 1.2 | 1.2 | 1.2 | 1.5 |
| **Other Company** | 1.6 | 1.6 | 2.3 | 2.3 | 2.2 | 2.2 | 1.5 | 1.5 | 2.2 | 2.2 | 2.1 | 2.3 | 2.3 | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 |
### Detailed Analysis:
1. **Security Company Response Times**:
- The Security Company shows a fairly consistent response time across the months, with minor fluctuations.
- The times vary between 1.1 and 1.7 minutes, with most months recording values around 1.2 to 1.6 minutes.
- Months 7 and 8 show the highest response times of 1.7 minutes.
2. **Other Company Response Times**:
- The Other Company generally shows higher response times compared to the Security Company.
- Their times range between 1.5 to 2.3 minutes, with most months having values around 2.1 to 2.3 minutes.
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