Another home business has an average income of $1.200.00 per month with a standard deviation of $100.00. If the income in a given month is $1,030.00, what z-score corresponds to this value?

Question

Mariam Gregory

Mathematics

21 November, 22:27

Another home business has an average income of $1.200.00 per month with a standard deviation of $100.00. If the income in a given month is $1,030.00, what z-score corresponds to this value?

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Answers (1)

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Cooper · Answer 1

The equation for the determination of the z-score is shown below.

z-score = (x - μ) / σ

where x is the value in which we need to determine the z-score, μ is the mean or the average, and σ is the standard deviation.

Substituting the known values,

z-score = (1,030.00 - 1,200) / 100 = - 1.7

Therefore, the z-score of 1,030 is - 1.7.