This chapter discusses important discrete probability distributions used in business statistics. It introduces discrete random variables and their probability distributions. It defines the binomial distribution and explains how to calculate probabilities using the binomial formula. Examples are provided to demonstrate calculating the mean, variance, and covariance of discrete random variables, as well as the expected value and risk of investment portfolios. Counting techniques like combinations are also discussed for calculating binomial probabilities.
This chapter introduces basic concepts in business statistics including how statistics are used in business, types of data and their sources, and popular software programs like Microsoft Excel and Minitab. It discusses descriptive versus inferential statistics and reviews key terminology such as population, sample, parameters, and statistics. The chapter also covers different types of variables, levels of measurement, and considerations for properly using statistical software programs.
This chapter discusses numerical descriptive measures used to describe the central tendency, variation, and shape of data. It covers calculating the mean, median, mode, variance, standard deviation, and coefficient of variation for data. The geometric mean is introduced as a measure of the average rate of change over time. Outliers are identified using z-scores. Methods for summarizing and comparing data using these descriptive statistics are presented.
This chapter discusses various methods for organizing and presenting data through tables and graphs. It covers techniques for categorical data like summary tables, bar charts, pie charts and Pareto diagrams. For numerical data, it discusses ordered arrays, stem-and-leaf displays, frequency distributions, histograms, frequency polygons and ogives. It also introduces methods for presenting multivariate categorical data using contingency tables and side-by-side bar charts. The goal is to choose the most effective way to summarize and communicate patterns in the data.
Introduction to Probability and Probability DistributionsJezhabeth Villegas
This document provides an overview of teaching basic probability and probability distributions to tertiary level teachers. It introduces key concepts such as random experiments, sample spaces, events, assigning probabilities, conditional probability, independent events, and random variables. Examples are provided for each concept to illustrate the definitions and computations. The goal is to explain the necessary probability foundations for teachers to understand sampling distributions and assessing the reliability of statistical estimates from samples.
This document discusses different types of probability distributions including discrete and continuous distributions. It provides examples and formulas for binomial, Poisson, normal, and other distributions. It also includes sample problems demonstrating how to apply these distributions to real-world scenarios like fitting data to binomial or normal distributions and calculating probabilities based on Poisson or normal assumptions.
This document provides an overview of multiple regression analysis. It introduces the concept of using multiple independent variables (X1, X2, etc.) to predict a dependent variable (Y) through a regression equation. It presents examples using Excel and Minitab to estimate the regression coefficients and other measures from sample data. Key outputs include the regression equation, R-squared (proportion of variation in Y explained by the X's), adjusted R-squared (penalized for additional variables), and an F-test to determine if the overall regression model is statistically significant.
This chapter discusses two-sample hypothesis tests for comparing population means and proportions between two independent samples, and between two related samples. It introduces tests for comparing the means of two independent populations, two related populations, and the proportions of two independent populations. The key tests covered are the pooled variance t-test for independent samples with equal variances, separate variance t-test for independent samples with unequal variances, and the paired t-test for related samples. Examples are provided to demonstrate how to calculate the test statistic and conduct hypothesis tests to compare sample means and determine if they are statistically different. Confidence intervals for the difference between two means are also discussed.
This chapter discusses simple linear regression analysis. It explains that regression analysis is used to predict the value of a dependent variable based on the value of at least one independent variable. The chapter outlines the simple linear regression model, which involves one independent variable and attempts to describe the relationship between the dependent and independent variables using a linear function. It provides examples to demonstrate how to obtain and interpret the regression equation and coefficients based on sample data. Key outputs from regression analysis like measures of variation, the coefficient of determination, and tests of significance are also introduced.
This chapter introduces basic concepts in business statistics including how statistics are used in business, types of data and their sources, and popular software programs like Microsoft Excel and Minitab. It discusses descriptive versus inferential statistics and reviews key terminology such as population, sample, parameters, and statistics. The chapter also covers different types of variables, levels of measurement, and considerations for properly using statistical software programs.
This chapter discusses numerical descriptive measures used to describe the central tendency, variation, and shape of data. It covers calculating the mean, median, mode, variance, standard deviation, and coefficient of variation for data. The geometric mean is introduced as a measure of the average rate of change over time. Outliers are identified using z-scores. Methods for summarizing and comparing data using these descriptive statistics are presented.
This chapter discusses various methods for organizing and presenting data through tables and graphs. It covers techniques for categorical data like summary tables, bar charts, pie charts and Pareto diagrams. For numerical data, it discusses ordered arrays, stem-and-leaf displays, frequency distributions, histograms, frequency polygons and ogives. It also introduces methods for presenting multivariate categorical data using contingency tables and side-by-side bar charts. The goal is to choose the most effective way to summarize and communicate patterns in the data.
Introduction to Probability and Probability DistributionsJezhabeth Villegas
This document provides an overview of teaching basic probability and probability distributions to tertiary level teachers. It introduces key concepts such as random experiments, sample spaces, events, assigning probabilities, conditional probability, independent events, and random variables. Examples are provided for each concept to illustrate the definitions and computations. The goal is to explain the necessary probability foundations for teachers to understand sampling distributions and assessing the reliability of statistical estimates from samples.
This document discusses different types of probability distributions including discrete and continuous distributions. It provides examples and formulas for binomial, Poisson, normal, and other distributions. It also includes sample problems demonstrating how to apply these distributions to real-world scenarios like fitting data to binomial or normal distributions and calculating probabilities based on Poisson or normal assumptions.
This document provides an overview of multiple regression analysis. It introduces the concept of using multiple independent variables (X1, X2, etc.) to predict a dependent variable (Y) through a regression equation. It presents examples using Excel and Minitab to estimate the regression coefficients and other measures from sample data. Key outputs include the regression equation, R-squared (proportion of variation in Y explained by the X's), adjusted R-squared (penalized for additional variables), and an F-test to determine if the overall regression model is statistically significant.
This chapter discusses two-sample hypothesis tests for comparing population means and proportions between two independent samples, and between two related samples. It introduces tests for comparing the means of two independent populations, two related populations, and the proportions of two independent populations. The key tests covered are the pooled variance t-test for independent samples with equal variances, separate variance t-test for independent samples with unequal variances, and the paired t-test for related samples. Examples are provided to demonstrate how to calculate the test statistic and conduct hypothesis tests to compare sample means and determine if they are statistically different. Confidence intervals for the difference between two means are also discussed.
This chapter discusses simple linear regression analysis. It explains that regression analysis is used to predict the value of a dependent variable based on the value of at least one independent variable. The chapter outlines the simple linear regression model, which involves one independent variable and attempts to describe the relationship between the dependent and independent variables using a linear function. It provides examples to demonstrate how to obtain and interpret the regression equation and coefficients based on sample data. Key outputs from regression analysis like measures of variation, the coefficient of determination, and tests of significance are also introduced.
This chapter discusses confidence interval estimation. It covers constructing confidence intervals for a single population mean when the population standard deviation is known or unknown, as well as confidence intervals for a single population proportion. The chapter defines key concepts like point estimates, confidence levels, and degrees of freedom. It provides examples of how to calculate confidence intervals using the normal, t, and binomial distributions and how to interpret the resulting intervals.
Discrete Random Variable (Probability Distribution)LeslyAlingay
This presentation the statistics teachers to discuss discrete random variable since it includes examples and solutions.
Content:
-definition of random variable
-creating a frequency distribution table
- creating a histogram
-solving for the mean, variance and standard deviation.
References:
http://www.elcamino.edu/faculty/klaureano/documents/math%20150/chapternotes/chapter6.sullivan.pdf
https://www.mathsisfun.com/data/random-variables-mean-variance.html
https://www.youtube.com/watch?v=OvTEhNL96v0
https://www150.statcan.gc.ca/n1/edu/power-pouvoir/ch12/5214891-eng.htm
Discrete probability distribution (complete)ISYousafzai
This document discusses discrete random variables. It begins by defining a random variable as a function that assigns a numerical value to each outcome of an experiment. There are two types of random variables: discrete and continuous. Discrete random variables have a countable set of possible values, while continuous variables can take any value within a range. Examples of discrete variables include the number of heads in a coin flip and the total value of dice. The document then discusses how to describe the probabilities associated with discrete random variables using lists, histograms, and probability mass functions.
This document discusses the normal distribution and other continuous probability distributions. It begins by listing the learning objectives, which are to compute probabilities from the normal, uniform, exponential, and binomial distributions. It then defines continuous random variables and describes key properties of the normal distribution, including its bell shape, equal mean, median and mode, and symmetry. Several examples are provided to illustrate how to compute probabilities using the normal distribution and standardized normal table. The empirical rules for the normal distribution are also discussed.
The central limit theorem states that the sampling distribution of the sample mean approaches a normal distribution as the sample size increases, even if the population is not normally distributed. It provides the mean and standard deviation of the sampling distribution of the sample mean. The document gives the definition of the central limit theorem and provides an example of how to use it to calculate probabilities related to the sample mean of a large normally distributed population.
Some Important Discrete Probability DistributionsYesica Adicondro
The chapter discusses important discrete probability distributions used in statistics for managers. It covers the binomial, hypergeometric, and Poisson distributions. The binomial distribution describes the number of successes in a fixed number of trials when the probability of success is constant. It has applications in areas like manufacturing and marketing. The key characteristics of the binomial distribution are its mean, variance, and standard deviation. Examples are provided to demonstrate how to calculate probabilities and characteristics of the binomial distribution. Tables can also be used to find binomial probabilities.
This document provides a tutorial on statistics and data displays. It includes definitions and examples of key statistical concepts like measures of central tendency, measures of spread, and types of data and variables. It also describes commonly used data displays like line plots, bar graphs, circle graphs, and stem-and-leaf plots. For each display, it explains what they consist of, when they work best, and includes examples. Questions to consider when analyzing each display are also provided. The tutorial is intended to refresh teachers' knowledge but can also be used by students.
Chap04 discrete random variables and probability distributionJudianto Nugroho
This document provides an overview of key concepts in chapter 4 of the textbook "Statistics for Business and Economics". The chapter goals are to understand mean, standard deviation, and probability distributions for discrete random variables, including the binomial, hypergeometric, and Poisson distributions. It introduces discrete random variables and probability distributions, and defines important properties like expected value, variance, and cumulative probability functions. It also covers the Bernoulli distribution as well as the characteristics and applications of the binomial distribution.
Chap05 continuous random variables and probability distributionsJudianto Nugroho
This chapter discusses continuous random variables and probability distributions, including the normal distribution. It introduces continuous random variables and their probability density functions. It describes the key characteristics and properties of the uniform and normal distributions. It also discusses how to calculate probabilities using the normal distribution, including how to standardize a normal distribution and use normal distribution tables.
This document provides information on chi-square tests and other statistical tests for qualitative data analysis. It discusses the chi-square test for goodness of fit and independence. It also covers Fisher's exact test and McNemar's test. Examples are provided to illustrate chi-square calculations and how to determine statistical significance based on degrees of freedom and critical values. Assumptions and criteria for applying different tests are outlined.
This chapter discusses confidence interval estimation. It defines point estimates and confidence intervals, and explains how to construct confidence intervals for a population mean when the population standard deviation is known or unknown, as well as for a population proportion. When the population standard deviation is unknown, a t-distribution rather than normal distribution is used. Formulas and examples are provided. The chapter also addresses determining the required sample size to estimate a mean or proportion within a specified margin of error.
Confidence interval & probability statements DrZahid Khan
This document discusses confidence intervals and probability. It defines confidence intervals as a range of values that provide more information than a point estimate by taking into account variability between samples. The document provides examples of how to calculate 95% confidence intervals for a proportion, mean, odds ratio, and relative risk using sample data and the appropriate formulas. It explains that confidence intervals convey the level of uncertainty associated with point estimates and allow estimation of how close a sample statistic is to the unknown population parameter.
This chapter aims to teach students how to compute and interpret various numerical descriptive measures of data, including measures of central tendency (mean, median, mode), variation (range, variance, standard deviation), and shape (skewness). It covers how to find quartiles and construct box-and-whisker plots. The chapter also discusses population summary measures, rules for describing variation around the mean, and interpreting correlation coefficients.
This document discusses various forecasting models and techniques. It begins by describing qualitative models that incorporate subjective factors like the Delphi method, jury of executive opinion, sales force composite, and consumer market surveys. It then covers time-series models like moving averages, exponential smoothing, trend projections, and decomposition that predict the future based on past data. Specific techniques are defined, like simple and weighted moving averages, and exponential smoothing. Examples are provided to illustrate how to apply these techniques to forecast data. Measures of forecast accuracy like mean absolute deviation are also introduced.
- The document discusses the multiple linear regression model, including defining dependent and independent variables, the motivation for using multiple regression, and providing examples.
- It describes how OLS estimation works by minimizing the sum of squared residuals to estimate the intercept and slope parameters. It also discusses how to interpret coefficients from multiple regression by "partialing out" the effects of other independent variables.
- The key assumptions for the multiple regression model are outlined, including that it is linear in parameters, has a random sample with no perfect collinearity, has a zero conditional mean, and is homoscedastic. Violations of these assumptions can cause issues like omitted variable bias.
This chapter discusses descriptive statistics and numerical measures used to describe data. It will cover computing and interpreting the mean, median, mode, range, variance, standard deviation, and coefficient of variation. It also explains how to apply the empirical rule and calculate a weighted mean. Additionally, it discusses how a least squares regression line can estimate linear relationships between two variables. The goals are to be able to compute and understand these common descriptive statistics and measures of central tendency, variation, and shape of data distributions.
This document outlines the key goals and concepts covered in Chapter 6 of the textbook "Statistics for Managers Using Microsoft Excel". The chapter introduces continuous probability distributions, including the normal, uniform, and exponential distributions. It describes the characteristics of the normal distribution and how to translate problems into standardized normal distribution problems. The chapter also covers sampling distributions, the central limit theorem, and how to find probabilities using the normal distribution table.
This chapter discusses point estimates and confidence intervals. It defines a point estimate as a single value used to estimate a population parameter, while a confidence interval provides a range of values expected to contain the population parameter. The chapter covers how to construct confidence intervals for a population mean when the standard deviation is known or unknown, as well as for a population proportion. It also addresses determining sample sizes for estimating means and proportions.
This document discusses probability distributions and binomial distributions. It defines:
i) Discrete and continuous probability distributions.
ii) The binomial distribution properties including the number of trials (n), probability of success (p), and probability of failure (q).
iii) How to calculate the mean, variance, and standard deviation of a binomial distribution using the formulas: mean=np, variance=npq, and standard deviation=√(npq).
This chapter discusses important discrete probability distributions used in statistics. It begins with an introduction to discrete random variables and probability distributions. It then covers the key concepts of mean, variance, standard deviation, and covariance for discrete distributions. The chapter focuses on explaining the binomial, hypergeometric, and Poisson distributions and how to calculate probabilities using them. It concludes with examples of how to apply these distributions to areas like finance.
This document covers topics related to covariance, correlation, and probability distributions. It discusses how to calculate measures like expected value, variance, and covariance for discrete random variables. Examples provided include tossing coins and computing these statistics for investment returns under different economic conditions. The key relationships discussed are that the expected value of a sum is the sum of the individual expected values, the variance of a sum includes the sum of the variances plus the covariance, and the correlation coefficient measures the strength of the linear relationship between two variables.
This chapter discusses confidence interval estimation. It covers constructing confidence intervals for a single population mean when the population standard deviation is known or unknown, as well as confidence intervals for a single population proportion. The chapter defines key concepts like point estimates, confidence levels, and degrees of freedom. It provides examples of how to calculate confidence intervals using the normal, t, and binomial distributions and how to interpret the resulting intervals.
Discrete Random Variable (Probability Distribution)LeslyAlingay
This presentation the statistics teachers to discuss discrete random variable since it includes examples and solutions.
Content:
-definition of random variable
-creating a frequency distribution table
- creating a histogram
-solving for the mean, variance and standard deviation.
References:
http://www.elcamino.edu/faculty/klaureano/documents/math%20150/chapternotes/chapter6.sullivan.pdf
https://www.mathsisfun.com/data/random-variables-mean-variance.html
https://www.youtube.com/watch?v=OvTEhNL96v0
https://www150.statcan.gc.ca/n1/edu/power-pouvoir/ch12/5214891-eng.htm
Discrete probability distribution (complete)ISYousafzai
This document discusses discrete random variables. It begins by defining a random variable as a function that assigns a numerical value to each outcome of an experiment. There are two types of random variables: discrete and continuous. Discrete random variables have a countable set of possible values, while continuous variables can take any value within a range. Examples of discrete variables include the number of heads in a coin flip and the total value of dice. The document then discusses how to describe the probabilities associated with discrete random variables using lists, histograms, and probability mass functions.
This document discusses the normal distribution and other continuous probability distributions. It begins by listing the learning objectives, which are to compute probabilities from the normal, uniform, exponential, and binomial distributions. It then defines continuous random variables and describes key properties of the normal distribution, including its bell shape, equal mean, median and mode, and symmetry. Several examples are provided to illustrate how to compute probabilities using the normal distribution and standardized normal table. The empirical rules for the normal distribution are also discussed.
The central limit theorem states that the sampling distribution of the sample mean approaches a normal distribution as the sample size increases, even if the population is not normally distributed. It provides the mean and standard deviation of the sampling distribution of the sample mean. The document gives the definition of the central limit theorem and provides an example of how to use it to calculate probabilities related to the sample mean of a large normally distributed population.
Some Important Discrete Probability DistributionsYesica Adicondro
The chapter discusses important discrete probability distributions used in statistics for managers. It covers the binomial, hypergeometric, and Poisson distributions. The binomial distribution describes the number of successes in a fixed number of trials when the probability of success is constant. It has applications in areas like manufacturing and marketing. The key characteristics of the binomial distribution are its mean, variance, and standard deviation. Examples are provided to demonstrate how to calculate probabilities and characteristics of the binomial distribution. Tables can also be used to find binomial probabilities.
This document provides a tutorial on statistics and data displays. It includes definitions and examples of key statistical concepts like measures of central tendency, measures of spread, and types of data and variables. It also describes commonly used data displays like line plots, bar graphs, circle graphs, and stem-and-leaf plots. For each display, it explains what they consist of, when they work best, and includes examples. Questions to consider when analyzing each display are also provided. The tutorial is intended to refresh teachers' knowledge but can also be used by students.
Chap04 discrete random variables and probability distributionJudianto Nugroho
This document provides an overview of key concepts in chapter 4 of the textbook "Statistics for Business and Economics". The chapter goals are to understand mean, standard deviation, and probability distributions for discrete random variables, including the binomial, hypergeometric, and Poisson distributions. It introduces discrete random variables and probability distributions, and defines important properties like expected value, variance, and cumulative probability functions. It also covers the Bernoulli distribution as well as the characteristics and applications of the binomial distribution.
Chap05 continuous random variables and probability distributionsJudianto Nugroho
This chapter discusses continuous random variables and probability distributions, including the normal distribution. It introduces continuous random variables and their probability density functions. It describes the key characteristics and properties of the uniform and normal distributions. It also discusses how to calculate probabilities using the normal distribution, including how to standardize a normal distribution and use normal distribution tables.
This document provides information on chi-square tests and other statistical tests for qualitative data analysis. It discusses the chi-square test for goodness of fit and independence. It also covers Fisher's exact test and McNemar's test. Examples are provided to illustrate chi-square calculations and how to determine statistical significance based on degrees of freedom and critical values. Assumptions and criteria for applying different tests are outlined.
This chapter discusses confidence interval estimation. It defines point estimates and confidence intervals, and explains how to construct confidence intervals for a population mean when the population standard deviation is known or unknown, as well as for a population proportion. When the population standard deviation is unknown, a t-distribution rather than normal distribution is used. Formulas and examples are provided. The chapter also addresses determining the required sample size to estimate a mean or proportion within a specified margin of error.
Confidence interval & probability statements DrZahid Khan
This document discusses confidence intervals and probability. It defines confidence intervals as a range of values that provide more information than a point estimate by taking into account variability between samples. The document provides examples of how to calculate 95% confidence intervals for a proportion, mean, odds ratio, and relative risk using sample data and the appropriate formulas. It explains that confidence intervals convey the level of uncertainty associated with point estimates and allow estimation of how close a sample statistic is to the unknown population parameter.
This chapter aims to teach students how to compute and interpret various numerical descriptive measures of data, including measures of central tendency (mean, median, mode), variation (range, variance, standard deviation), and shape (skewness). It covers how to find quartiles and construct box-and-whisker plots. The chapter also discusses population summary measures, rules for describing variation around the mean, and interpreting correlation coefficients.
This document discusses various forecasting models and techniques. It begins by describing qualitative models that incorporate subjective factors like the Delphi method, jury of executive opinion, sales force composite, and consumer market surveys. It then covers time-series models like moving averages, exponential smoothing, trend projections, and decomposition that predict the future based on past data. Specific techniques are defined, like simple and weighted moving averages, and exponential smoothing. Examples are provided to illustrate how to apply these techniques to forecast data. Measures of forecast accuracy like mean absolute deviation are also introduced.
- The document discusses the multiple linear regression model, including defining dependent and independent variables, the motivation for using multiple regression, and providing examples.
- It describes how OLS estimation works by minimizing the sum of squared residuals to estimate the intercept and slope parameters. It also discusses how to interpret coefficients from multiple regression by "partialing out" the effects of other independent variables.
- The key assumptions for the multiple regression model are outlined, including that it is linear in parameters, has a random sample with no perfect collinearity, has a zero conditional mean, and is homoscedastic. Violations of these assumptions can cause issues like omitted variable bias.
This chapter discusses descriptive statistics and numerical measures used to describe data. It will cover computing and interpreting the mean, median, mode, range, variance, standard deviation, and coefficient of variation. It also explains how to apply the empirical rule and calculate a weighted mean. Additionally, it discusses how a least squares regression line can estimate linear relationships between two variables. The goals are to be able to compute and understand these common descriptive statistics and measures of central tendency, variation, and shape of data distributions.
This document outlines the key goals and concepts covered in Chapter 6 of the textbook "Statistics for Managers Using Microsoft Excel". The chapter introduces continuous probability distributions, including the normal, uniform, and exponential distributions. It describes the characteristics of the normal distribution and how to translate problems into standardized normal distribution problems. The chapter also covers sampling distributions, the central limit theorem, and how to find probabilities using the normal distribution table.
This chapter discusses point estimates and confidence intervals. It defines a point estimate as a single value used to estimate a population parameter, while a confidence interval provides a range of values expected to contain the population parameter. The chapter covers how to construct confidence intervals for a population mean when the standard deviation is known or unknown, as well as for a population proportion. It also addresses determining sample sizes for estimating means and proportions.
This document discusses probability distributions and binomial distributions. It defines:
i) Discrete and continuous probability distributions.
ii) The binomial distribution properties including the number of trials (n), probability of success (p), and probability of failure (q).
iii) How to calculate the mean, variance, and standard deviation of a binomial distribution using the formulas: mean=np, variance=npq, and standard deviation=√(npq).
This chapter discusses important discrete probability distributions used in statistics. It begins with an introduction to discrete random variables and probability distributions. It then covers the key concepts of mean, variance, standard deviation, and covariance for discrete distributions. The chapter focuses on explaining the binomial, hypergeometric, and Poisson distributions and how to calculate probabilities using them. It concludes with examples of how to apply these distributions to areas like finance.
This document covers topics related to covariance, correlation, and probability distributions. It discusses how to calculate measures like expected value, variance, and covariance for discrete random variables. Examples provided include tossing coins and computing these statistics for investment returns under different economic conditions. The key relationships discussed are that the expected value of a sum is the sum of the individual expected values, the variance of a sum includes the sum of the variances plus the covariance, and the correlation coefficient measures the strength of the linear relationship between two variables.
This document provides an overview of decision making techniques covered in Chapter 17. It begins by listing the learning objectives, which are to use payoff tables, decision trees, and criteria to evaluate alternative courses of action. It then outlines the steps in decision making, which include listing alternatives and uncertain events, determining payoffs, and adopting evaluation criteria. Several decision making criteria are introduced, including maximax, maximin, expected monetary value, expected opportunity loss, value of perfect information, and return-to-risk ratio. Payoff tables and decision trees are presented as methods for displaying decision problems. The chapter concludes by discussing how sample information can be used to revise old probabilities when making decisions.
This chapter discusses decision making under uncertainty. It describes the basic steps in decision making as listing alternative actions, uncertain events, determining payoffs, and adopting decision criteria. It introduces payoff tables and decision trees as methods to display this information. Expected monetary value and expected opportunity loss are presented as decision criteria that aim to maximize expected payoff or minimize expected loss. The value of perfect information is defined as the expected gain from knowing the outcome with certainty compared to the best action under uncertainty. Finally, it discusses how to account for risk by considering the variability of payoffs through measures like variance and standard deviation.
This chapter discusses discrete random variables and probability distributions. It begins by introducing discrete random variables and defining key terms like probability distribution and cumulative probability function. It then covers the binomial distribution in depth, explaining its properties and how it applies to situations with a fixed number of binary trials. Examples are provided to demonstrate how to calculate probabilities, means, and variances for the binomial. The chapter objectives are to understand and apply the binomial, hypergeometric, and Poisson distributions to find probabilities of discrete random variables.
This chapter discusses the fundamentals of hypothesis testing for one-sample tests. It introduces the concepts of the null hypothesis (H0), alternative hypothesis (H1), test statistic, critical values, significance level, Type I and Type II errors. It explains the hypothesis testing process and covers the z-test and t-test for comparing a sample mean to a hypothesized population mean. An example demonstrates a two-tailed t-test to determine if there is evidence that the average cost of hotel rooms in New York is different than the claimed mean of $168, finding insufficient evidence based on a sample.
* Clerk enters 75 words per minute
* Transaction is 255 words
* So time to enter transaction is 255/75 = 3.4 minutes
* Clerk makes 6 errors per hour
* In 1 hour there are 60 minutes
* So rate of errors per minute is 6/60 = 0.1
* In 3.4 minutes expected errors is 3.4 * 0.1 = 0.34
* Using Poisson distribution with λ = 0.34:
p(X=0) = e^-0.34 * 0.34^0 / 0! = 0.711
Therefore, the probability of 0 errors is 0.711.
This document provides an overview of key concepts in decision making covered in Chapter 16 of the textbook "Statistics for Managers Using Microsoft Excel". It begins by listing the chapter goals, which include describing decision making processes, constructing decision tables, applying expected value criteria, and accounting for risk attitudes. It then outlines the typical steps in decision making, such as listing alternatives and possible outcomes. Key decision making criteria are defined, like expected monetary value, expected opportunity loss, and value of perfect information. Examples are provided to demonstrate how to apply these concepts to make optimal decisions under uncertainty.
Applied Business Statistics ,ken black , ch 5AbdelmonsifFadl
This document discusses discrete probability distributions from Chapter 5 of the textbook "Business Statistics, 6th ed." by Ken Black. It defines discrete and continuous random variables and distributions. It describes how to calculate the mean and variance of a discrete distribution. It also introduces the binomial and Poisson distributions and provides examples of how to calculate probabilities using them. For the binomial distribution example, it calculates the probability of getting two or fewer unemployed workers in a random sample of 20 Jackson, Mississippi residents. For the Poisson distribution example, it calculates the probability of more than 7 customers arriving at a bank in a 4-minute interval, given an average arrival rate of 3.2 customers every 4 minutes.
The document discusses linear regression analysis and its applications. It provides examples of using regression to predict house prices based on house characteristics, economic forecasts based on economic indicators, and determining optimal advertising levels based on past sales data. It also explains key concepts in regression including the least squares method, the regression line, R-squared, and the assumptions of the linear regression model.
This document discusses regression analysis and linear regression models. It provides examples of how regression can be used to understand relationships between variables and predict values. Specifically, it examines a case study of how sales from a home renovation company (Triple A Construction) can be predicted based on area payroll. The regression line that best fits the data is calculated and metrics like the coefficient of determination are used to evaluate how well the regression model fits the data. Assumptions of the linear regression model like independent and normally distributed errors are also covered.
The document discusses decision theory and decision trees. It introduces decision making under certainty, risk, and uncertainty. It defines elements related to decisions like goals, courses of action, states of nature, and payoffs. It also discusses concepts like expected monetary value, expected profit with perfect information, expected value of perfect information, and expected opportunity loss. Examples are provided to demonstrate calculating these metrics. Finally, it provides an overview of how to construct a decision tree, including defining the different node types and how to calculate values within the tree.
8. A 2 x 2 Experimental Design - Quality and Economy (x1 and x2.docxblondellchancy
8. A 2 x 2 Experimental Design: - Quality and Economy (x1 and x2 as independent variables)
Dr. Boonghee Yoo
[email protected]
RMI Distinguished Professor in Business and
Professor of Marketing & International Business
Make changes on the names, labels, and measure on the variable view.
Check the measure.
Have the same keys between “Name” and “Label.”
Run factor analysis for ys (dependent variables).
Select “Principal axis factoring” from “Extraction.”
The two-factor solution seems the best as (1) they are over one eigenvalue each and (2) the variance explained for is over 60%.
The new eigenvalues after the rotation.
The rotated factor matrix is clear.
But note that y3 and y1 are collapsed into one factor.
If not you should rerun factor analysis after removing the most problematic item one at a time.
Repeat this procedure until the rotated factor pattern has
(1) no cross-loading,
(2) no weak factor loading (< 0.5), and
(3) an adequate number of items (not more than 5 items per factor).
If a clear factor pattern is obtained, name the factors.
Attitude and purchase intention (y3 and y1)
Boycotting intention (y2)
Compute the reliability of the items of each factor
Make sure all responses were used.
Cronbach’s a (= Reliability a) must be greater than 0.70. Then, you can create the composite variable out of the member items.
Means and STDs must be similar among the items.
No a here should be greater than Cronbach’s a. If not, you should delete such item(s) to increase a.
Create the composite variable for each factor.
BI = mean (y2_1,y2_2,y2_3)
“PI” will be added to the data.
Go to the Variable View and change its “Name” and “Label.”
8. A 2 x 2 Experimental Design: - Quality and Economy (x1 and x2 as independent variables)
Dr. Boonghee Yoo
[email protected]
RMI Distinguished Professor in Business and
Professor of Marketing & International Business
BLOCK 1. Title and introductory paragraph.
Title and introductory paragraph
Plus, background questions
BLOCK 2 to 5. Show one of four treatments randomly.
x1(hi), x2 (hi)
x1 (hi), x2 (low)
x1 (low), x2 (hi)
x1 (low), x2 (low)
BLOCK 6. Questions.
Manipulation check questions (multi-item scales)
y1, y2, and y3 (multi-item scales)
Socio-demographic questions
Write “Thank you for participation.”
The questionnaire (6 blocks)
A 2x2 between-sample design: SQ (Service quality and ECON (Contribution to local economy)
Each of the four BLOCKs consist of:
The instruction: e.g., “Please read the following description of company ABC carefully.”
The scenario: An image file or written statement
(No questions inside the scenario blocks)
Qualtrics Survey Flow (6 blocks)
Manipulation check questions y1, y2, …, yn
Questions to verify that subjects were manipulated as intended. For example, if the stimulus is dollar-amount price, the manipulation check ...
8. A 2 x 2 Experimental Design - Quality and Economy (x1 and x2.docxpriestmanmable
8. A 2 x 2 Experimental Design: - Quality and Economy (x1 and x2 as independent variables)
Dr. Boonghee Yoo
[email protected]
RMI Distinguished Professor in Business and
Professor of Marketing & International Business
Make changes on the names, labels, and measure on the variable view.
Check the measure.
Have the same keys between “Name” and “Label.”
Run factor analysis for ys (dependent variables).
Select “Principal axis factoring” from “Extraction.”
The two-factor solution seems the best as (1) they are over one eigenvalue each and (2) the variance explained for is over 60%.
The new eigenvalues after the rotation.
The rotated factor matrix is clear.
But note that y3 and y1 are collapsed into one factor.
If not you should rerun factor analysis after removing the most problematic item one at a time.
Repeat this procedure until the rotated factor pattern has
(1) no cross-loading,
(2) no weak factor loading (< 0.5), and
(3) an adequate number of items (not more than 5 items per factor).
If a clear factor pattern is obtained, name the factors.
Attitude and purchase intention (y3 and y1)
Boycotting intention (y2)
Compute the reliability of the items of each factor
Make sure all responses were used.
Cronbach’s a (= Reliability a) must be greater than 0.70. Then, you can create the composite variable out of the member items.
Means and STDs must be similar among the items.
No a here should be greater than Cronbach’s a. If not, you should delete such item(s) to increase a.
Create the composite variable for each factor.
BI = mean (y2_1,y2_2,y2_3)
“PI” will be added to the data.
Go to the Variable View and change its “Name” and “Label.”
8. A 2 x 2 Experimental Design: - Quality and Economy (x1 and x2 as independent variables)
Dr. Boonghee Yoo
[email protected]
RMI Distinguished Professor in Business and
Professor of Marketing & International Business
BLOCK 1. Title and introductory paragraph.
Title and introductory paragraph
Plus, background questions
BLOCK 2 to 5. Show one of four treatments randomly.
x1(hi), x2 (hi)
x1 (hi), x2 (low)
x1 (low), x2 (hi)
x1 (low), x2 (low)
BLOCK 6. Questions.
Manipulation check questions (multi-item scales)
y1, y2, and y3 (multi-item scales)
Socio-demographic questions
Write “Thank you for participation.”
The questionnaire (6 blocks)
A 2x2 between-sample design: SQ (Service quality and ECON (Contribution to local economy)
Each of the four BLOCKs consist of:
The instruction: e.g., “Please read the following description of company ABC carefully.”
The scenario: An image file or written statement
(No questions inside the scenario blocks)
Qualtrics Survey Flow (6 blocks)
Manipulation check questions y1, y2, …, yn
Questions to verify that subjects were manipulated as intended. For example, if the stimulus is dollar-amount price, the manipulation check.
Fears in business operations are known as risks. They mainly affect external and international
relations and other business relations. In the event where operational risks are prominent, the
viability of a business in the future deteriorates and is a complete failure or crippling of the entire
business system. Risk aversion also takes into consideration proper analysis of future prospect of
a specific business before even making an ideal analysis of future prospect of a specific business
before engaging in capital investment
- See more at: http://www.customwritingservice.org/blog/risks-and-returns/
This document discusses binary classification and logistic regression. It defines key terms like odds, odds ratios, and probability. It also notes some issues that can arise, such as imbalanced samples, separation, and unclear practices regarding variable selection and dealing with collinearity. Interpretation of coefficients in logistic regression is discussed, specifically that coefficients estimate the log of the odds ratios comparing different levels of the independent variables.
This chapter discusses confidence interval estimation for means and proportions. It introduces key concepts such as point estimates, confidence intervals, and confidence levels. For a mean where the population standard deviation is known, the confidence interval formula uses the normal distribution. When the standard deviation is unknown, the t-distribution is used instead. For a proportion, the confidence interval adds an allowance for uncertainty to the sample proportion. The chapter also covers determining sample sizes and interpreting confidence intervals.
DBM380 v14Create a DatabaseDBM380 v14Page 2 of 2Create a D.docxedwardmarivel
DBM/380 v14
Create a Database
DBM/380 v14
Page 2 of 2Create a Database
The following assignment is based on the business scenario for which you created both an entity-relationship diagram and a normalized database design in Week 2.
For this assignment, you will create multiple related tables that match your normalized database design. In other words, you will implement a physical design (an actual, usable database) based on a logical design.
Refer to the linked W3Schools.com articles “SQL CREATE TABLE Statement,” “SQL PRIMARY KEY Constraint,” “SQL FOREIGN KEY Constraint,” and “SQL INSERT INTO Statement” for help in completing this assignment.
Note: In the industry, even the most carefully thought out database designs can contain mistakes. Feel free to correct in your tables any mistakes you notice in your normalized database design. Also, note that in Microsoft® Access®, you follow the steps below to launch the SQL editor:
Figure 1. To create a SQL query in Microsoft® Access®, begin by clicking the CREATE tab.
To Complete This Assignment:
1. Use the CREATE TABLE statement to create each table in your design. Note that a table in a RDMS corresponds to an entity in an entity-relationship diagram. Recommended tables for this assignment are CUSTOMER, ORDER, ORDER_DETAIL, PRODUCT, EMPLOYEE, and STORE.
2. As part of each CREATE TABLE statement, define all of the columns, or fields, that you want each particular table to contain. Give them short, meaningful names and include constraints; that is, describe what type of data each column (field) is allowed to hold and any other constraints, such as size, range, or uniqueness.
3. Note that any field you marked as a unique identifier in your normalized database design is a key field. Key fields must be described as both UNIQUE and NOT NULL, which means a value must exist for each record and that value must be unique across all records.
4. After you have created all six tables, including relationships between the tables as appropriate (matching the primary key in one table to a foreign key in another table), use the INSERT INTO statement to insert 10 records into each of your tables. You will need to make up the data you insert into your tables. For example, to insert one record into the CUSTOMER table, you will need to invent a customer number, a customer name, and so on—one value for each of the fields you defined for the CUSTOMER table—to insert into the table.
5. To ensure that your INSERT INTO statements succeeded in populating your tables, use the SELECT statement described in Ch. 7, “Introduction to Structured Query Language,” in Database Systems: Design, Implementation, and Management.to retrieve the records you inserted. For example, to see all 10 records you inserted into the CUSTOMER table, you might apply the following SQL statement: SELECT * FROM CUSTOMER;
After you have created all six tables and populated ten records in each table, submit to the Assignment Files tab the database containin.
This chapter discusses hypothesis testing, which involves formulating a null hypothesis (H0) and an alternative hypothesis (H1) about a population parameter, collecting a sample, and determining whether to reject the null hypothesis based on the sample data. The key points covered are:
- H0 states the assumption to be tested numerically, while H1 challenges the status quo.
- Type I and Type II errors can occur depending on whether H0 is correctly rejected or not rejected.
- Hypothesis tests for a mean can use a z-test if the population standard deviation is known, or a t-test if it is unknown.
- The significance level, critical values, and p-values are used
This chapter discusses choosing appropriate statistical techniques for analyzing numerical and categorical data. For numerical variables, it identifies questions about describing characteristics, drawing conclusions about the mean/standard deviation, determining differences between groups, identifying influencing factors, predicting values, and determining stability over time. For each, it lists relevant techniques. For categorical variables, it addresses similar questions and outlines techniques like hypothesis testing, regression, and control charts. The goal is to match the right analysis to the data type and research purpose.
This document provides an overview of time-series forecasting and index numbers. It discusses different time-series forecasting models including moving averages, exponential smoothing, linear trend, quadratic trend, and exponential trend models. It also covers identifying trend, seasonal, and irregular components in a time series. Smoothing methods like moving averages and exponential smoothing are presented as ways to identify trends in data. The document concludes by discussing linear, nonlinear, and exponential trend forecasting models for generating forecasts from time-series data.
This document provides an overview of simple linear regression analysis. It defines key concepts such as the regression line, slope, intercept, and correlation coefficient. It also explains how to evaluate the fit of a regression model using the coefficient of determination (R2), which measures the proportion of variance in the dependent variable that is explained by the independent variable. The document includes an example using house price and square footage data to demonstrate how to apply simple linear regression and interpret the results.
This chapter discusses chi-square tests and nonparametric tests. It covers chi-square tests for contingency tables to test differences between two or more proportions, including computing expected frequencies. The Marascuilo procedure is introduced for determining pairwise differences when proportions are found to be unequal. Chi-square tests of independence are discussed for contingency tables with more than two variables to test if the variables are independent. Nonparametric tests are also introduced. Examples are provided to demonstrate chi-square goodness of fit tests and tests of independence.
This chapter discusses analysis of variance (ANOVA) techniques. It covers one-way and two-way ANOVA for comparing the means of three or more groups or populations. The chapter explains how to partition total variation into between-group and within-group components using sum of squares calculations. It also describes how to conduct the F-test and make inferences about differences in population means using ANOVA tables and significance tests. Multiple comparison procedures for identifying specific mean differences are also introduced.
This chapter discusses sampling and sampling distributions. It defines key sampling concepts like the sampling frame, population, and different sampling methods including probability and non-probability samples. Probability sampling methods include simple random sampling, systematic sampling, stratified sampling, and cluster sampling. The chapter also covers sampling distributions and how the distribution of sample means approaches a normal distribution as the sample size increases due to the Central Limit Theorem, even if the population is not normally distributed. This allows inferring properties of the population from a sample.
This document provides an overview of basic probability concepts covered in Chapter 4 of Basic Business Statistics, 11th Edition. It introduces key probability terms like simple events, joint events, sample space, and contingency tables for visualizing events. It covers how to calculate probabilities of events both with and without conditional dependencies. Formulas are provided for computing joint, marginal, and conditional probabilities using contingency tables. The chapter also explains Bayes' Theorem for revising probabilities based on new information. An example demonstrates how to apply Bayes' Theorem to calculate the probability of a successful oil well given a positive test result.
This document discusses various methods for organizing and presenting categorical and numerical data using tables, charts, and graphs. It covers summarizing categorical data using summary tables, bar charts, pie charts, and Pareto diagrams. For numerical data, it discusses organizing data using ordered arrays, stem-and-leaf displays, frequency distributions, histograms, frequency polygons, ogives, contingency tables, side-by-side bar charts, and scatter plots. The goal is to effectively communicate patterns and relationships in the data.
The document discusses the economic theory of consumer choice. It addresses how consumers make decisions based on their preferences between goods, income constraints, and prices. The key points covered are:
1) Consumer preferences are represented by indifference curves, which show combinations of goods that make the consumer equally satisfied.
2) The budget constraint depicts the combinations of goods a consumer can afford based on income and prices.
3) Consumers seek to maximize satisfaction by choosing the highest indifference curve possible, given their budget constraint. The optimal choice occurs where the indifference curve is tangent to the budget constraint.
This document discusses income inequality and poverty. It provides data on the distribution of income in the United States from 1998 to 1935, showing that income inequality has increased in recent decades. Factors that have contributed to rising inequality include increases in international trade, changes in technology, and the falling wages of unskilled workers relative to skilled workers. The document also examines poverty rates in the US and issues with measuring inequality, such as accounting for in-kind transfers, economic life cycles, and transitory versus permanent income. It concludes by discussing different political philosophies around redistributing income.
1) Workers earn different wages due to factors like human capital, job attributes, ability, and discrimination. More education leads to higher wages.
2) While competitive markets reduce discrimination, it can persist due to customer preferences or government policies that support discriminatory practices.
3) There is debate around the doctrine of "comparable worth" and whether jobs of equal value or importance should receive equal pay.
This document summarizes key concepts about labor markets from an economics textbook. It discusses factors of production and how the demand for labor is derived from the demand for output. It then explains how firms determine the optimal quantity of labor to hire by equating the marginal product of labor to the wage according to the principle of profit maximization. Labor supply and demand determine the equilibrium wage in competitive markets. The document also briefly discusses land, capital, and productivity.
This document summarizes key aspects of monopolistic competition. It describes monopolistic competition as having many firms selling differentiated but similar products, with free entry and exit in the long run. In the short run, monopolistically competitive firms profit maximize at a quantity where price exceeds average total cost. In the long run, these firms operate at a loss and produce at a quantity where price equals average total cost, resulting in excess capacity compared to perfect competition. The document also discusses how advertising and brand names contribute to product differentiation in monopolistic competition.
This document discusses oligopolies and imperfect competition. It provides examples and explanations of oligopolies, including characteristics such as having few sellers offering similar products. Game theory is discussed as a way to understand strategic decision making in oligopolies. The prisoners' dilemma is used as an example to illustrate the challenges of cooperation among oligopolists and how their individual interests may not lead to the optimal outcome.
The document discusses monopolies and how they differ from competitive firms. It defines a monopoly as a sole seller of a product without close substitutes, allowing it to be a price maker. Monopolies arise due to barriers to entry like owning key resources, patents, or economies of scale. As the sole producer, a monopoly faces a downward sloping demand curve and sets price based on where marginal revenue equals marginal cost to maximize profits. The government regulates monopolies to prevent excessive prices and deadweight loss through antitrust laws.
A Visual Guide to 1 Samuel | A Tale of Two HeartsSteve Thomason
These slides walk through the story of 1 Samuel. Samuel is the last judge of Israel. The people reject God and want a king. Saul is anointed as the first king, but he is not a good king. David, the shepherd boy is anointed and Saul is envious of him. David shows honor while Saul continues to self destruct.
How to Download & Install Module From the Odoo App Store in Odoo 17Celine George
Custom modules offer the flexibility to extend Odoo's capabilities, address unique requirements, and optimize workflows to align seamlessly with your organization's processes. By leveraging custom modules, businesses can unlock greater efficiency, productivity, and innovation, empowering them to stay competitive in today's dynamic market landscape. In this tutorial, we'll guide you step by step on how to easily download and install modules from the Odoo App Store.
Level 3 NCEA - NZ: A Nation In the Making 1872 - 1900 SML.pptHenry Hollis
The History of NZ 1870-1900.
Making of a Nation.
From the NZ Wars to Liberals,
Richard Seddon, George Grey,
Social Laboratory, New Zealand,
Confiscations, Kotahitanga, Kingitanga, Parliament, Suffrage, Repudiation, Economic Change, Agriculture, Gold Mining, Timber, Flax, Sheep, Dairying,
This presentation was provided by Racquel Jemison, Ph.D., Christina MacLaughlin, Ph.D., and Paulomi Majumder. Ph.D., all of the American Chemical Society, for the second session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session Two: 'Expanding Pathways to Publishing Careers,' was held June 13, 2024.
CapTechTalks Webinar Slides June 2024 Donovan Wright.pptxCapitolTechU
Slides from a Capitol Technology University webinar held June 20, 2024. The webinar featured Dr. Donovan Wright, presenting on the Department of Defense Digital Transformation.
Temple of Asclepius in Thrace. Excavation resultsKrassimira Luka
The temple and the sanctuary around were dedicated to Asklepios Zmidrenus. This name has been known since 1875 when an inscription dedicated to him was discovered in Rome. The inscription is dated in 227 AD and was left by soldiers originating from the city of Philippopolis (modern Plovdiv).