BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS ANALYTICS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A ____ determines how far a particular value is from the mean relative to the data set’s standard deviation.
A
coefficient of variation
B
z-score
C
variance
D
percentile
Explanation: 

Detailed explanation-1: -The standard deviation is a number that measures how far data values are from their mean. The standard deviation provides a numerical measure of the overall amount of variation in a data set, and can be used to determine whether a particular data value is close to or far from the mean.

Detailed explanation-2: -Z-score indicates how much a given value differs from the standard deviation. The Z-score, or standard score, is the number of standard deviations a given data point lies above or below mean. Standard deviation is essentially a reflection of the amount of variability within a given data set.

Detailed explanation-3: -Z-scores allow you to take data points drawn from populations with different means and standard deviations and place them on a common scale. This standard scale lets you compare observations for different types of variables that would otherwise be difficult.

Detailed explanation-4: -A z score is a standard score that tells you how many standard deviations away from the mean an individual value (x) lies: A positive z score means that your x value is greater than the mean. A negative z score means that your x value is less than the mean.

Detailed explanation-5: -T-scores compare bone density with that of a healthy person, whereas Z-scores use the average bone density of people of the same age, sex, and size as a comparator. Although both scores can be useful, most experts prefer using Z-scores for children, teenagers, premenopausal females, and younger males.

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