new business had the following monthly net gains: $8295 $2902 $2881 $6216 $8924 $3028 $1476 $6053 $5609 $5822 Find the median for the given sample data. A. $5,120
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.
| $8295 | $2902 | $2881 | $6216 | $8924 |
| $3028 | $1476 | $6053 | $5609 | $5822 |
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