8th-ed Chapter 09, Section 9.3, Intelligent Tutoring Problem 061 (a) Compute sz. Round the answer to four decimal places. (b) Compute the value of the test statistic, the t value. Round the answer to three decimal places. t-value = (c) Find the critical value oft from the t-distribution. Round the answer to three decimal places. Critical t-value =
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 mean balance of all checking accounts at a bank on December 31, 2011, was $850. A random sample of 51 checking accounts taken recently from this bank gave a mean balance of $788 with a standard deviation of $200. Using the 1% significance level, can you conclude that the mean balance of such accounts has decreased during this period?
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