Suppose an Internet retailer would like to investigate the linear relationship between the amount of time in minutes a purchaser spends on its Web site and the amount of money he or she spends on an order. The table to the right shows the data from a random sample of 12 customers. Order Size Time Order Size 20 $71 4 $60 11 $29 38 $365 26 $90 8 $132 22 $203 36 $155 3 $49 22 $78 12 $39 7 $249 α=0.01, The test statistic is t= (Round to two decimal places 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.
Suppose an Internet retailer would like to investigate the linear relationship between the amount of time in minutes a purchaser spends on its Web site and the amount of money he or she spends on an order. The table to the right shows the data from a random sample of 12 customers.
|
Order Size
|
Time
|
Order Size
|
|
|
|---|---|---|---|---|
|
20
|
$71
|
4
|
$60
|
|
|
11
|
$29
|
38
|
$365
|
|
|
26
|
$90
|
8
|
$132
|
|
|
22
|
$203
|
36
|
$155
|
|
|
3
|
$49
|
22
|
$78
|
|
|
12
|
$39
|
7
|
$249
|
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