It is costly in both time and money to go to college. Does it pay off? According to the Bureau of the Census, the answer is yes. The average annual income (in thousands of dollars) of a household headed by a person with the stated education level is as follows: 24.8 if ninth grade is the highest level achieved, 41.2 for high school graduates, 59.3 for those holding associate degrees, 82.6 for those with bachelor's degrees, 100.3 for those with master's degrees, and 121.7 for those with doctoral degrees. Make a bar graph showing household income for each education level.
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.
It is costly in both time and money to go to college. Does it pay
off? According to the Bureau of the Census, the answer is yes. The average annual income (in thousands of dollars) of a household headed by a person with the stated education level is as follows: 24.8 if ninth grade is the highest level achieved, 41.2 for high school graduates, 59.3 for those holding associate degrees, 82.6 for those with bachelor's degrees, 100.3 for those with master's degrees, and 121.7 for those with doctoral degrees. Make a bar graph showing household income for each education level.
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