What are the applications of Z-scores in statistics?
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What are the applications of Z-scores in statistics?
Z-scores are used to determine how far a data point is from the mean, helping in standardization and comparison.
Can you give me an example of how Z-scores are used in real life?
Sure! In education, Z-scores can compare a student's test score to the average score of their peers.
Are there any other fields where Z-scores are applied?
Yes, Z-scores are also used in finance for risk assessment and in healthcare for analyzing patient data.
How do you calculate a Z-score?
To calculate a Z-score, subtract the mean from the data point and then divide by the standard deviation.
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