The following table gives information on the incomes (in thousands of dollars) and charitable contributions (in hundreds of dollars) for the last year for a random sample of 10 households. Income Charitable Contributions 76 15 57 4 140 42 97 33 75 5 107 32 65 10 77 18 102 28 53 4 a. Find the correlation coefficient. b. Test at a 1% significance level whether the linear correlation coefficient between the two variables is significant. c. With income as an independent variable and charitable contributions as a dependent variable , find the regression equation? d. Find the amount of charitable contribution if the income is 80,000 dollars.
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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