The Bureau of Labor Statistics (BLS) collects data regarding occupational employment and wages in the United States. stem-and-leaf plot below represents the mean hourly wage in dollars for various management positions in the state of Arkansas for May 2015. Leaf Unit = 1.0 2 | 0 1 2 3 3 2 5 3 3 5 5 9. 4 1 2 2 2 3 4 8 8 2 5 5 6 7 7 Find the mode of the data set. Give your answer precise to the nearest dollar. 3.
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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