Q1:The average chef at a restaurant earns $17 an hour with a deviation of $1.75. What are the chances that someone is earning more than $20 an hour? Q2: the average on quiz score is 4 with a standard deviation of only 0.385. What are the chances that someone less than a 4.5 on the quiz? Q3: If you get a sneak peak at the salary list of your job and realize you are in the lowest bracket, which is the lowest 1%, what is your salary if you know that the mean salary is $48,000 and it has a standard deviation of $5500? Hint: what are you solving for here? Notice you have the PERCENTAGE to start with!
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.
Q1:The average chef at a restaurant earns $17 an hour with a deviation of $1.75. What are the chances that someone is earning more than $20 an hour?
Q2: the average on quiz score is 4 with a standard deviation of only 0.385. What are the chances that someone less than a 4.5 on the quiz?
Q3: If you get a sneak peak at the salary list of your job and realize you are in the lowest bracket, which is the lowest 1%, what is your salary if you know that the mean salary is $48,000 and it has a standard deviation of $5500?
Hint: what are you solving for here? Notice you have the PERCENTAGE to start with!
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