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With regard to unemployment insurance, which of the following statements is true?
Z-score
A numerical metric indicating how a specific value compares to the average of a dataset, expressed by the number of standard deviations away from that average.
Standard Deviation
An indicator of the spread or variability within a data set; where a small standard deviation indicates values closely clustered around the average, and a large standard deviation suggests they are widely scattered.
Z-score
A statistical measure that describes a value's position relative to the mean of a group of values, expressed in units of standard deviation.
Z
In statistics, often represents the standard score, which is the number of standard deviations a data point is from the mean.
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