A well-known University in North Carolina wants to remove the highest paid administrations in their RF department since they have not been profitable in the past five years. There are 48 people in the department and 6 need to be removed. Assuming their annual wages are normally distributed with a mean of 59,400 and a standard deviation of 3,400 find the maximum annual wage an administrator in the RF department will have not to be removed. (Round answer to dollars and cents) O a. 64,547.94 Ob, 55,570.27 Oc 55,488.81 Od. 64.616.01 Oe, 63,311.18
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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