You are the product manager for Carl's ice cream. The company president asked you to determine if Carl's ice cream has equal sales as Ole ice cream, which is a strong competitor. The table below contains weekly sales for competing brands for randomly selected 4 approximately equal size stores that did not follow a normal distribution. (Use two digits after deimal point) Carl's Sales Ole Sales 1500 2000 1700 2500 1800 2500 1700 2300 Is there a difference between mean sales at a=5%? a. Ho H: Since test statistic = is than critical value = we and Therefore mean sales are
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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