Varatta Enterprises sells industrial plumbing valves. The following table lists the annual sales amounts for every salesperson in the organization for the most recent fiscal year. Salesperson Sales Amount ($1000) Salesperson Sales Amount ($1000) Joseph 148 Wei 466 Jennifer 231 Samantha 409 Phillip 548 Erin 299 Stanley 329 Dominic 322 Luke 294 Charlie 189 Lexie 193 Amol 212 Margaret 369 Lenisa 412 (a) Compute the mean (in $), variance, and standard deviation (in $) for these annual sales values. (Round your answers to the nearest whole number.) mean$variancestandard deviation$
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.
| Salesperson | Sales Amount ($1000) | Salesperson | Sales Amount ($1000) |
|---|---|---|---|
| Joseph | 148 | Wei | 466 |
| Jennifer | 231 | Samantha | 409 |
| Phillip | 548 | Erin | 299 |
| Stanley | 329 | Dominic | 322 |
| Luke | 294 | Charlie | 189 |
| Lexie | 193 | Amol | 212 |
| Margaret | 369 | Lenisa | 412 |
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