Here are the summary statistics for the weekly payroll of ä Small Clm lowest salary $300, mean salary $900, median = $800, range $1200, IQR = $800, first quartile =$350, standard deviation = $350. After everyone receives a $100 raise, the new range is $ 1200 After everyone receives a $100 raise, the new IQR is $ 800 After everyone receives a $100 raise, the new first quartile is $450 After everyone receives a $100 raise, the new standard deviation is $ 350 d) Instead, suppose the company gives each employee a 20% raise. Tell the new value of each of the summary statistics. After everyone receives a 20% raise, the new lowest salary is $. After everyone receives a 20% raise, the new mean salary is $. After everyone receives a 20% raise, the new median is $ After everyone receives a 20% raise, the new range is After everyone receives a 20% raise, the new IQR is $ After everyone receives a 20% raise, the new first quartile is $. After everyone receives a 20% raise, the new standard deviation is $
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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