The average price (in cents) per pound of sugar observed during the period September 2012 to September 2013 in most US cities is displayed in the line graph provided. What was the percentage increase in the price (in cents) per pound of sugar from November 2012 to January 2013? 18.6 Average price of sugar in US cities 17.8 17.0 16.2 15.4 14.6 13.8 13.0 Oct-12 Nov-12 Dec-12 Jan-13 Mar-13 Apr-13 May-13 Feb-13 Jun-13 Aug-13 Sep-13 Jul-13 Pricein Cents per Pound Sep-12
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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