You and your two friends paid the following amounts for a new MP3 player: $165, $210, and $225. A. What is the mean and standard deviation of the population of you and your friends? Mean (round to the nearest penny): µ = Standard Deviation (round to the penny): o = $31.22 B. Complete the table using the sample size of two prices, with replacement. x1, x2 Ex 165, 330 165 165 165, 375 187.5 210 165, 390 195 225 210, 187.5 375 165 210, 420 210 210 210, 435 217.5 225 225, 390 195 165 225, 435 217.5 210 225, 450 225
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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