The following table shows monthly earnings of a given group of employees. Monthly earnings (000). N.o of employees 20_30 50 30_40 69 40_50 70 50_60 90 60_70 52 70_80 40 Required:compute the following Arithmetic mean Median Mean deviation Coefficient of variation Distinguish between spatial series and time series
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 table shows monthly earnings of a given group of employees.
Monthly earnings (000). N.o of employees
20_30 50
30_40 69
40_50 70
50_60 90
60_70 52
70_80 40
Required:compute the following
- Arithmetic
mean Median - Mean deviation
- Coefficient of variation
Distinguish between spatial series and time series
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