Listed to the right are the selling prices (in thousands of dollars) for a sample of 19 lakeside lots in Pinnacle Peak, a vacation home community in the Blue Ridge mountains. 86 61 148 81 39 142 140 65 28 85 90 92 25 50 85 85 82 120 137 Determine the following: a. the first quartile b. the third quartile c. the median
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 to the right are the selling prices (in thousands of dollars) for a sample of 19 lakeside lots in Pinnacle Peak, a vacation home community in the Blue Ridge mountains.
86
61
148
81
39
142
140
65
28
85
90
92
25
50
85
85
82
120
137
Determine the following:
a. the first
b. the third quartile
c. the
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