The following data set shows the average room price (in US$) paid by various nationalities while traveling abroad in a recent year. Complete parts (a) through (c) below. 127 106 119 125 116 114 136 86 136 91 132 112 130 The variance is ____ The standard deviation is _____ Based on the results of (a) and (b), what conclusions can be reached concerning the room price (in US$) from that year? The room price is _(A)______ because the mean is__(B)____ the median. Option A: right-skewed, symmetric or left-skewed Option B: greater than, equal to, or less than
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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127
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106
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119
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125
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116
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114
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136
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86
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136
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91
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132
|
112
|
130
|
|
The variance is ____
The standard deviation is _____
Based on the results of (a) and (b), what conclusions can be reached concerning the room price (in US$) from that year?
The room price is _(A)______ because the mean is__(B)____ the median.
Option A: right-skewed, symmetric or left-skewed
Option B: greater than, equal to, or less than
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