Create a dataset of 7 numbers with the following 5 number summary. Explain your process. Min = 5, Q1=7 , Median =10 , Q3=14, Max =17
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.
Create a dataset of 7 numbers with the following 5 number summary. Explain your process.
Min = 5, Q1=7 , Median =10 , Q3=14, Max =17
Introduction:
Denote Q1, Q2, Q3 as the three quartiles, where Q2 is also called the median. By definition, observations lie below Q1 with 25% or 0.25 probability, below Q2 with 50% or 0.50 probability, and below Q3 with 75% or 0.75 probability.
The ith quartile, Qi, (i = 1, 2, 3) of a data set is such that (i/4) proportion of the observations in the data set fall below Qi. In case of an odd number of observations, n, in a raw data set as this one, when the data are arranged in an increasing or decreasing order, the ith quartile is:
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