The Bureau of Labor Statistics (BLS) records data on variables related to the U.S. economy, including the number of unemployed people during each year. The following dot plot displays the annual numbers of unemployed people between 1972 and 1982 as reported by the BLS. Each value is reported in units of millions of people. From the above dot plot, find the median of the annual number of unemployed people in the U.S. between 1972 and 1982 in millions of people.
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.
The Bureau of Labor Statistics (BLS) records data on variables related to the U.S. economy, including the number of unemployed people during each year. The following dot plot displays the annual numbers of unemployed people between 1972 and 1982 as reported by the BLS. Each value is reported in units of millions of people.
From the above dot plot, find the median of the annual number of unemployed people in the U.S. between 1972 and 1982 in millions of people.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
