The monthly incomes for 12 randomly selected people, each with a bachelor's degree in economics, are shown on the right. Complete parts (a) through (c) below. Assume the population is normally distributed. 4450.53 4596.07 4366.29 4455.74 4151.29 3727.99 4283.24 4527.11 4407.72 3946.45 4023.42 4221.16 (a) Find the sample mean.
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 monthly incomes for 12 randomly selected people, each with a bachelor's degree in economics, are shown on the right. Complete parts (a) through (c) below.
Assume the population is
|
4450.53 |
4596.07 |
4366.29 |
|
|
4455.74 |
4151.29 |
3727.99 |
|
|
4283.24 |
4527.11 |
4407.72 |
|
|
3946.45 |
4023.42 |
4221.16 |
|
(a) Find the sample
x=________(Round to one decimal place as needed.)
(b) Find the sample standard deviation.
s=________(Round to one decimal place as needed.)
(c) Construct a
99% confidence interval for the population mean (___ , ____)
(Round to one decimal place as needed.)
Given data,
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