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GATE DA 2024 Q27: z-score normalisation of an income value

Question

Let the minimum, maximum, mean and standard deviation values for the attribute income of data scientists be ₹46000, ₹170000, ₹96000, and ₹21000, respectively. The z-score normalized income value of ₹106000 is closest to which ONE of the following options?

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Answer: B (official GATE 2024 final answer key)

Concept used: z-score normalisation: z=x−μσz = \dfrac{x - \mu}{\sigma} (min and max are not used).

First step: z=106000−9600021000z = \dfrac{106000 - 96000}{21000}.

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Source: official GATE 2024 DA question paper and final answer key, organised by IISc Bangalore. Question paper · Answer key