The following are the annual salaries of 20 chief executive officers of major companies. (The salaries are written in thousands of dollars.) 700, 1108, 224, 586 , 814, 609, 767, 271, 84, 452, 676, 495, 472, 1250, 653, 519, 75, 181, 723, 790 Send data to calculator Find 25th and 60th percentiles for these salaries. (If necessary, consult a list of formulas.) (a) The 25th percentile: _thousanddollars? (b) The 60th percentile: _thousanddollars?
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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