12 11 10 2 10 15 20 25 30 35 40 Mutual Funds Price S Identify which class the mean Mutual Funds Price lies? 1.35-40 2. 20-25 3.25-30 4. 10-15 5. Following data is the raw Data Pertaining to Total Time Hours Worked by Machinists 94 89 88 89 90 94 92 88 87 85 88 93 94 93 94 93 92 88 94 90 93 84 93 84 91 93 85 91 89 95 Which of the following is the probability that the machinists work for 88 hours? 1.2/15 2. 1/5 3.3/5 4. 4/15 Number of funds
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.
Step by step
Solved in 2 steps
