The increasing annual cost (including tuition, room, board, books, and fees) to attend college has been widely discussed.1 The following random samples show the annual cost of attending private and public colleges. Data are in thousands of dollars. Private Colleges Public Colleges 53.8 43.2 46.0 32.3 44.0 20.3 22.0 28.2 15.6 24.1 28.5 30.6 44.8 36.8 50.5 43.0 22.8 25.8 18.5 25.6 14.4 21.8 (a) Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for private colleges. (Round the standard deviation to two decimal places.) sample mean %24 thousand sample standard deviation thousand Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for public colleges. (Round the standard deviation to two decimal places.) sample mean %24 thousand sample standard deviation thousand
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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