Answer :
A. 1.00
A Z-score is a measure of how many standard deviations a particular value has from the mean of the distribution. In this case, the distribution has a mean of $1,000 and a standard deviation of $100. So the Z-score tells you how many standard deviations $1,100 income is from the mean.
Using the formula provided earlier, we can calculate the z-score as follows:
z = ($1,100 - $1,000) / $100 = 1
This indicates that the income of $1,100 is one standard deviation above the mean. Therefore, it is one standard deviation above the average income of the executive group.
Standard deviation is a measure of how spread out the values are within a distribution. A large standard deviation means that the values are more spread out and the data is more dispersed. A small standard deviation means that the values are clustered around the mean and that the data are less scattered.
In this case, the standard deviation is $100, which is relatively small compared to the median income of $1,000. This suggests that the distribution values are relatively close to the mean and that the data are not significantly different. An income of $1,100 is just one standard deviation above the mean, not a big deviation in this case.
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