The following data set provides information about the City of Somerville Assessors Valuation for the fiscal year 2016. Building Type Land Area in Acres Living Area Total Assessed Land Value Total Assessed Parcel Value Commercial 0.20860882 318 625900 730700 Commercial 0.21751607 3630 423700 741100 Commercial 5.5474977 59506 10253200 13547100 Commercial 0.18682277 3780 293300 460200 Commercial 0.55227273 22017 681300 1214000 Condominium 0 1776 0
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.
The following data set provides information about the City of Somerville Assessors Valuation for the fiscal year 2016.
Commercial 0.20860882 318 625900 730700
Commercial 0.21751607 3630 423700 741100
Commercial 5.5474977 59506 10253200 13547100
Commercial 0.18682277 3780 293300 460200
Commercial 0.55227273 22017 681300 1214000
Condominium 0 1776 0 579500
Condominium 0 1270 0 512100
Condominium 0 2076 0 578900
Condominium 0 1132 0 281800
Condominium 0 957 0 266800
Condominium 0 1128 0 481100
Condominium 0 1235 0 470400
Condominium 0 1264 0 442500
Condominium 0 678 0 244300
Condominium 0 792 0 323800
Condominium 0 1818 0 500000
Condominium 0 1400 0 473000
Condominium 0 1280 0 328100
Condominium 0 1850 0 644900
Condominium 0 1089 0 477300
Condominium 0 892 0 372900
Residential 0.05502755 2296 395800 746200
Residential 0.03826905 1620 345400 557800
Residential 0.09070248 3343 476800 774000
Residential 0.05968779 4032 408000 839300
Residential 0.06818182 3438 215400 669200
Which statements are true about the pattern of data for the sample standard deviations of the commercial buildings total assessed land value and total assessed parcel value, and the residential buildings total assessed land value and total assessed parcel value? Select all that apply.
Select all that apply:
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Commercial buildings have a greater standard deviation in both categories than residential.
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The standard deviation for Commercial Total Assessed Land Value is only two times the standard deviation for Residential Total Assessed Land Value.
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The largest difference in standard deviation is from Residential Total Assessed Land Value to Commercial Total Assessed Parcel Value.
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The smallest decrease in standard deviation is from Residential Total Assessed Parcel Value to Residential Total Assessed Land Value.
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