Q.8: Following are the details of survey conducted by a survey firm Mini LLC. They would like to find out the trend of urban population since 2013. Urban Year Population Population 2,086,983 2013 2,843,415 2014 2,285,997 3,041,434 2015 4,267,348 3,416,565 2016 4,479,219 3,650,429 2017 4,665,928 3,874,042 2018 4,829,473 4,083,206 2019 4,974,986 4,273,762 2020 5,106,626 4,442,970 a) Moving average or semi average which method will be suitable to find out the trend. b) Find out the 3 yearly trend values using moving average method and comment on the trend c) Critically compare moving average and semi average method
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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