You work at a bank and are asked to recommend the amount of cash to put in an ATM each day. You don't want to put in too much (security) or too little (customer irritation). Complete parts (a) through (c) below. E Click the icon to view the the daily withdrawals (in 100s of dollars) for a period of 30 days. (a) Choose the correct relative frequency histogram for the data using eight classes below. O A. OB. 0.44 0.3 0.2- 0.1- 0- 67 0.4 0.3 0.2- 0.1- 73 79 85 91 97 103 104 61 67 73 79 85 91 97 103 OC. OD. 0.4- 0.3- 0.2- 0.1- 0.4- 0.3- 0.2- 0.1- 63.5 69.5 75.5 81.5 87.5 93.5 99.5 105.5 63.5 69.5 75.5 81.5 87.5 93.5 99.5 105.5
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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