Payroll A small warehouse employs a supervisor at $1200a week, an inventory manager at $700 a week, six stockboys at $400 a week, and four drivers at $500 a week.a) Find the mean and median wage.b) How many employees earn more than the mean wage?c) Which measure of center best describes a typical wageat this company: the mean or the median? d) Which measure of spread would best describe the pay-roll: the range, the IQR, or the standard deviation? Why?
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.
a week, an inventory manager at $700 a week, six stock
boys at $400 a week, and four drivers at $500 a week.
a) Find the mean and
b) How many employees earn more than the mean wage?
c) Which measure of center best describes a typical wage
at this company: the mean or the median?
roll: the
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