Write brief notes on two ways how statistics deal with variability.
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.
Write brief notes on two ways how statistics deal with variability.
Measures of variability:
The measure of variability or the measures of dispersion can be measured using the statistics range, interquartile range, standard deviation and coefficient of variation. Among these 4 measures of dispersion, coefficient of variation gives the variation in the data set relative to its mean. Hence, coefficient of variation is said to be best measure of variability.
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