Sample annual salaries (in thousands of dollars) for employees at a company are listed. 50 36 51 59 31 31 50 36 51 27 59 50 44 O (a) Find the sample mean and sample standard deviation. (b) Each employee in the sample is given a $2000 raise. Find the sample mean and sample standard deviation for the revised data set. (c) Each employee in the sample takes a pay cut of $5000 from their original salary. Find the sample mean and the sample standard deviation for the revised data set. (d) What can you conclude from the results of (a), (b), and (c)? (a) The sample mean is x= thousand dollars. (Round to one decimal place as needed.)
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.
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