Let YY represent the profit (or loss) for a certain company XX years after 1970. Based on the data shown below, a statistician calculates a linear model Y=−0.81X+19.46Y=-0.81X+19.46. x y 2 18.91 3 16.34 4 16.47 5 14.1 6 15.43 7 12.86 8 12.79 9 13.12 10 10.55 11 11.28 12 8.81 13 9.14 14 9.67 15 6.1 Use the model to estimate the profit in `1977 y =
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.
Let YY represent the profit (or loss) for a certain company XX years after 1970. Based on the data shown below, a statistician calculates a linear model Y=−0.81X+19.46Y=-0.81X+19.46.
| x | y |
|---|---|
| 2 | 18.91 |
| 3 | 16.34 |
| 4 | 16.47 |
| 5 | 14.1 |
| 6 | 15.43 |
| 7 | 12.86 |
| 8 | 12.79 |
| 9 | 13.12 |
| 10 | 10.55 |
| 11 | 11.28 |
| 12 | 8.81 |
| 13 | 9.14 |
| 14 | 9.67 |
| 15 | 6.1 |
Use the model to estimate the profit in `1977
y =
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