The mean wage per hour for all employees who work at a large company is $25.50 with a standard deviation of $6.75. Let ??̅be the mean wage per hour for a random sample of certain employees selected from this company. Find the mean and standard deviation of ??̅ for the following sample sizes: a) n=12 ??̅ = ??̅ = b) n=30 ??̅ = ??̅ = c) n=100 ??̅ = ??̅ = What happens to the values of ????̅ and ????̅ as the sample size increase?
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.
2. The mean wage per hour for all employees who work at a large company is $25.50 with a standard deviation of $6.75. Let ??̅be the mean wage per hour for a random sample of certain employees selected from this company. Find the mean and standard deviation of ??̅ for the following sample sizes:
a) n=12
??̅ =
??̅ =
b) n=30
??̅ =
??̅ =
c) n=100
??̅ =
??̅ =
What happens to the values of ????̅ and ????̅ as the sample size increase?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
