180 furniture factories have the following distribution of average number of workers in various income groups: Income Groups: 800 - 1000 1000 - 1200 1200 – 1400 1400 – 1600 1600 – 1800 Number of firms: 45 37 27 30 41 Average Number of Workers: 12 16 6 9 7 Find the mean salary paid to the workers.
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.
180 furniture factories have the following distribution of average number of workers in various
income groups:
Income Groups: 800 - 1000 1000 - 1200 1200 – 1400 1400 – 1600 1600 – 1800
Number of firms: 45 37 27 30 41
Average Number of
Workers: 12 16 6 9 7
Find the mean salary paid to the workers.
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