There are 10 employees in a particular division of a company. Their salaries have a mean of $70,000, a median of $55000, and a standard deviation of $20,000. The largest number on the list is $90,000. By accident, this number is changed to $900,000. What is the value of the mean after the change? Select one: O a. $170,000 b. $151,000 c. $70,000 d. $90,000 e. $160,000
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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