Wildlife Reserves Singapore offers six types of annual membership to individuals. The charges are shown in the table below. Individual Membership Type Membership Charges per year, $ Friends of Bird Park 39 Friends of River Safari 65 Friends of Singapore Zoo 105 Friends of Night Safari 105 Friends of Wildlife 145 Friends of Wildlife Plus 205 Of all the individuals who have taken up the annual membership, 20% hold Friends of Bird Park membership, 10% hold Friends of River Safari membership, 15% hold Friends of Singapore Zoo membership, 25% hold Friends of Night Safari membership, 10% hold Friends of Wildife membership and 20% hold Friends of Wildlife Plus membership. Assume no individual can hold more than one type of membership. The probability of observing the mean annual membership charges of a group of 30 members to be more than $105 = 1 (write your answer in a numeric form up to 3 decimal places)
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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