The following table shows the annual profit for five companies, the cost to purchase that company and the number of employees currently employed. Cost to Buy Company Annual Profit No of Employees Company A R40 000 R36 000 R52 000 R50 000 7 R42 000 R40 000 8 D R120 000 R130 000 18 E R81 000 R85 000 13 If the profit per employee remained the same, how many extra employees would Company C have to employ to achieve an annual profit that is 250% more than the current one? 8 12 4 13
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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