Question 21. A large retail company keeps sales data local to the individual branches where sales transactions were performed. To compute overall sales statistics, the company wants to avoid sending the full sales data set to a central server. Instead, only aggregated sales information (sum, average, minimum, variance, median, maximum is sent from each branch to the central site. Which of the following statements are correct? a) The overall sum can be derived from the sums per branch. 6 b) The overall average can be derived from the averages per branch. c) The overall minimum can be derived from the minimums per branch. d) The overall variance can be derived from the variances per branch. e) The overall median can be derived from the medians per branch. f) The overall maximum can be derived from the maximums per branch.
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.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
