salesperson records the following daily expenditures during a 10-day trip: 185.34, 234.55, 211.86, 147.65, 205.60, 216.74, 1345.75, 184.16, 320.45, 88.12. Does the mean or median of the expenditures best represent the salesperson's average daily expenditure? Explain your reasoning
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.
A salesperson records the following daily
expenditures during a 10-day trip: 185.34, 234.55,
211.86, 147.65, 205.60, 216.74, 1345.75, 184.16,
320.45, 88.12. Does the mean or
expenditures best represent the salesperson's
average daily expenditure? Explain your reasoning
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