Mrs. Paolano is interested in buying a new car and wants to investigate how much it will cost. She does a search of used cars on Carvana and finds 35 she is interested in. The prices, in thousands of dollars, of those cars are given in the table below. What best describes the shape of the distribution of car prices? a skewed to the right b skewed to the left c uniform d bimodal e approximately normal
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.
Mrs. Paolano is interested in buying a new car and wants to investigate how much it will cost. She does a search of used cars on Carvana and finds 35 she is interested in. The prices, in thousands of dollars, of those cars are given in the table below. What best describes the shape of the distribution of car prices?
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a
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skewed to the right
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|
b
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skewed to the left
|
|
c
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uniform
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|
d
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bimodal
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|
e
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approximately normal
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