The Fortune Global 500, also known as the Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. In total, the Global 500 generated $31.2 trillion in revenues in 2014. The table provides a list of the 30 companies with the highest revenues (in billions of dollars) in 2014. A stemplot or histogram shows that the distribution is strongly skewed to the right. These questions come after the picture. (a) Use the software of your choice to calculate the five‑number summary. (Enter your answers rounded to one decimal place.) Min = Q1= Median = Q3= Max = Explain why this summary suggests that this distribution is right‑skewed. Select the correct explanation. A) The first quartile is farther below the median than the third quartile is above the median. B) The first and third quartiles are equally distant from the median. C) The third quartile is farther above the median than the first quartile is below the median.
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 Fortune Global 500, also known as the Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. In total, the Global 500 generated $31.2 trillion in revenues in 2014. The table provides a list of the 30 companies with the highest revenues (in billions of dollars) in 2014. A stemplot or histogram shows that the distribution is strongly skewed to the right.
These questions come after the picture.
(a) Use the software of your choice to calculate the five‑number summary. (Enter your answers rounded to one decimal place.)
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