A small firm negotiates an annual pay rise with each of its twelve employees. In an attempt to simplify the process, it is proposed that each employee should be given a score, x, based on his/her level of responsibility. The following table gives last year’s salaries and proposed scores. Employee Score, x Annual salary, y Employee Score, x Annual salary, y A 10 5750 G 85 18800 B 55 17300 H 64 14850 C 46 14750 I 36 9900 D 27 8200 J 40 11000 E 17 6350 K 30 9150 F 12 6150 L 37 10400 A. Find a suitable linear regression equation ? = ? +
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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