The following table shows a sample of room rates for a 100 room resort hotel in Nova Scotia for the time period Jan.1 to Dec. 2003. Note that 1/1-7/3 means January 1 to March 7, 2003. Be sure to scroll down to see the bottom of the rate table. 2003 Room Rates A Oceanfront 1 double bed B Oceanfront 2 double beds C Oceanfrent Effic. 2 double beds D2 room suite 3 double beds 1/1 -7/3 21/12 -31/12 8/3 31/3 1/6 1/7 2/9 9/10 2/12 - 30/3 -31/5 -30/6 -1/9 -8/10 -1/12 -20/12 75 125 85 100 150 95 85 75 125 85 135 95 110 160 105 95 85 135 105 155 115 130 180 125 115 105 155 120 175 130 150 200 140 130 120 175 Oceanfront Suite 3 double beds O E 140 200 150 175 225 165 150 140 200 Extra Person 10 10
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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