The following values are the starting salaries, in $000, for a sample of six accounting graduates who accepted positions in public accounting last year. 36 26 33 28 29 32 28 31 28 31 a. Determine sixth decile. b. Develop a Box plot for the salaries. c. Find the limits, beyond which salaries would be considered as outliers?
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.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images
