Solar energy is considered by many to be the energy of the future. A recent survey was taken to compare the cost of solar energy to the cost of gas or electric energy. Results of the survey revealed that the distribution of the amount of the monthly utility bill of a 3-bedroom house using gas or electric energy had a mean of $117 and a standard deviation of $13. If the distribution can be considered bell shaped, what percentage of homes will have a monthly utility bill of more than $104?
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.
Solar energy is considered by many to be the energy of the future. A recent survey was taken to compare the cost of solar energy to the cost of gas or electric energy. Results of the survey revealed that the distribution of the amount of the monthly utility bill of a 3-bedroom house using gas or electric energy had a mean of $117 and a standard deviation of $13. If the distribution can be considered bell shaped, what percentage of homes will have a monthly utility bill of more than $104?
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