Listed below are the top 10 annual salaries (in millions of dollars) of TV personalities. Find the range, variance, and standard deviation for the sample data. Given that these are the top 10 salaries, do we know anything about the variation of salaries of TV personalities in general? 3939 3737 3535 2727 1616 1515 1212 1111 10.710.7 9.39.3 The range of the sample data is $nothing million. (Type an integer or a decimal.) The variance of the sample data is nothing. (Round to two decimal places as needed.) The standard deviation of the sample data is $nothing million. (Round to two decimal places as needed.) Is the standard deviation of the sample a good estimate of the variation of salaries of TV personalities in general? A. No, because there is an outlier in the sample data. B. No, because the sample is not representative of the whole population. C. Yes, because the standard deviation is an unbiased estimator. D. Yes, because the sample is random.
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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