The average income in a state was $73,000 per person per year. Suppose the standard deviation is $22,000 and the distribution is right-skewed. Suppose we take a random sample of 100 residents of the state. Complete parts (a) and (b) below. a. What value should we expect for the sample mean? Why? The expected sample mean is $ because the (Type a whole number.) b. What is the standard error for the sample mean sample mean is an unbiased estimator of the population mean. The standard error for the sample mean is $: distribution is right-skewed. (Type an integer or a decimal. Do not round.) sample mean gets larger with a larger sample size. sample mean gets smaller with a larger sample size.
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.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
