The following data represent the living situation of newlyweds in a large metropolitan area and their annual household income. What percent of people who rent their home make between $35,000 and $50,000 per year? Round to the nearest thousandth of a percent. < $20,000 $20 – 35,000 $35 - 50,000 $50 – 75,000 > $75,000 Own home 31 52 202 355 524 Rent home 67 66 52 23 11 Live w/ family 89 69 30 2 O A. 18.310% O B. 23.744% OC. 10.502% O D. 30.137%
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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