What is a z-score and how is it calculated?
An example of an AI chatbot conversation about understanding z-scores in statistics.
What is a z-score and how is it calculated?
A z-score measures how many standard deviations an element is from the mean. It's calculated using the formula: z = (X - μ) / σ, where X is the value, μ is the mean, and σ is the standard deviation.
Can you give me an example of how to calculate a z-score?
Sure! Let's say the mean test score is 70, and the standard deviation is 10. If a student scored 85, the z-score would be (85 - 70) / 10 = 1.5.
What does a z-score of 1.5 indicate?
A z-score of 1.5 indicates that the score is 1.5 standard deviations above the mean, suggesting it's higher than average.
How can z-scores be used in real life?
Z-scores are used in various fields, like finance for risk assessment, in education to compare student performance, and in health to evaluate measurements against population averages.
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