Consider this data set for the size of firms in Putnam County (as measured by the number of employees). The state of TN is using this data to determine corporate grants, where a firm can be awarded funds as long as they collectively employ 440 people or more. The director of this program, who knows a little about “measures of central tendency,” has determined that since the typical firm size is 435, then zero funds will be awarded this year. Do you agree or disagree? Choose the correct statement below. 550 430 517 390 402 567 401 459 98 543
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.
Consider this data set for the size of firms in Putnam County (as measured by the number of employees). The state of TN is using this data to determine corporate grants, where a firm can be awarded funds as long as they collectively employ 440 people or more. The director of this program, who knows a little about “measures of
550 430 517 390 402 567 401 459 98 543
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