Applying the Concepts and Skills Big-Banks Break-up. Anationwide survey of 1000 U.S. adults, conducted in March 2013 by Rasmussen Reports (field work by Pulse Opinion Research, LLC), found that 50% of respondents favored a plan to break up the 12 megabanks, which then controlled about 69% of the banking industry. a. Identify the population and sample for this study. b. Is the percentage provided a descriptive statistic or an inferential statistic? Explain your answer.
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.
Applying the Concepts and Skills
Big-Banks Break-up. Anationwide survey of 1000 U.S. adults, conducted in March 2013 by Rasmussen Reports (field work by Pulse Opinion Research, LLC), found that 50% of respondents favored a plan to break up the 12 megabanks, which then controlled about 69% of the banking industry.
a. Identify the population and sample for this study.
b. Is the percentage provided a
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