Which of the following statements are TRUE: (a) If the standard deviation of a collection of data is zero then all the data in this collection are equal to each other (b) If you work for Quality Control in a company then your preference is that the measurements of your company's product have a large standard deviation (c) If the class 20 to 29 of a class frequency distribution contains the most data then this class 20 to 29 is the mode (d) If a value is unlikely then this value must be significant (e) The 5-Number summary of a collection of data are the minimum, mean, standard deviation, median, and maximum of this collected data (f) if the Zscore of a value is -2.44 then this value is a significant value (g) The best indicator of a typical house price in Lake Worth is the mean of the Lake Worth House prices
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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