The following data are the number of years of full-time education (x) and the annual salary in thousands of dollars (y) for 15 persons. Education 20 26 29 18 12 17 8 15 Salary 35.2 24.5 23.6 33.2 24.5 33.5 11.2 32.3 Education 17 13 13 18 17 15 13 Salary 25.1 22.2 18.9 37.8 25.8 28.5 29.6 Find the best-fitting line for the data. (Round your values to three decimal places.) y' =
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 following data are the number of years of full-time education (x) and the annual salary in thousands of dollars (y) for 15 persons.
| Education | 20 | 26 | 29 | 18 | 12 | 17 | 8 | 15 |
|---|---|---|---|---|---|---|---|---|
| Salary | 35.2 | 24.5 | 23.6 | 33.2 | 24.5 | 33.5 | 11.2 | 32.3 |
| Education | 17 | 13 | 13 | 18 | 17 | 15 | 13 | |
| Salary | 25.1 | 22.2 | 18.9 | 37.8 | 25.8 | 28.5 | 29.6 |
Find the best-fitting line for the data. (Round your values to three decimal places.)
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