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Lecture 7. Sampling Distributions. Statistical Inference: Using statistics calculated from samples to estimate the values of population parameters. Select Random Sample Sample for (statistic) Calculate to estimate Becomes Population Parameter. BASIC Example: Soft Drink Bottler μ=600, σ=10. Normal Distribution. What is P(X>598)? p(x<598) . Sampling Dist.of the Mean – Distribution of all Possible Sample Means if you select a sample of a certain size. μX= μ. μ = i=1NXiN (formula
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make the study of investment easier and more efficient. If you had a good introductory quantitative methods course, and like the text that was used, you may want to refer to it whenever you feel in need of a refresher. If you feel uncomfortable with standard quantitative texts, this reference is for you. Our aim is to present the essential quantitative concepts and methods in a self-contained, nontechnical, and intuitive way. Our approach is structured in line with requirements for the CFA program. The
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Part I (Chapters 1 – 11) MBA 611 STATISTICS AND QUANTITATIVE METHODS Part I. A. Review of Basic Statistics (Chapters 1-11) Introduction (Chapter 1) Uncertainty: Decisions are often based on incomplete information from uncertain events. We use statistical methods and statistical analysis to make decisions in uncertain environment. Population: Sample: A population is the complete set of all items in which an investigator is interested. A sample is a subset of population values. & Example:
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Newsvendor Model Chapter 11 1 utdallas.edu/~metin Learning Goals Determine the optimal level of product availability – Demand forecasting – Profit maximization Service measures such as a fill rate utdallas.edu/~metin 2 Motivation Determining optimal levels (purchase orders) – Single order (purchase) in a season – Short lifecycle items 1 month: Printed Calendars, Rediform 6 months: Seasonal Camera, Panasonic 18 months, Cell phone, Nokia
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Unit 4 problem set 1: Normal Probability Distributions Page.285 Ex 6,8,10,12 6. x = 80, z=80-10015 = -1.33 z= 0.0918 1-0.0918 = 0.9082 8. x = 110, z=110-10015 = 0.67 z= 0.7486 z= 75-10015 = -1.67 z= 0.0475 0.7486-0.0475= 0.7011 (shaded area) 10. z= 0.84 (shaded) z= -0.84 x= 100+(-0.84∙15) = 87 (rounded) 12. . z= 2.33 x= 100+(2.33∙15) = 135 (rounded) Page 288 Ex 34 34.Appendix B Data Set: Duration of Shuttle Flights a. Find the mean and standard deviation, and verify
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measured in standard deviation (SD) units (Heiman, 2012). The importance of a z-score is that it enables one to analyze data relative to scores. Z-Scores allow us to determine whether a particular score is equal to the mean, below the mean or above the mean of a bunch of scores, and how far a particular score is away from the mean. Evaluating the scores of Eric’s to determine different z-scores, we use the following computations that he computed where it takes a mean of 17 minutes with a standard deviation
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CHAPTER 6: THE NORMAL DISTRIBUTION AND OTHER CONTINUOUS DISTRIBUTIONS 1. In its standardized form, the normal distribution a) has a mean of 0 and a standard deviation of 1. b) has a mean of 1 and a variance of 0. c) has an area equal to 0.5. d) cannot be used to approximate discrete probability distributions. ANSWER: a TYPE: MC DIFFICULTY: Easy KEYWORDS: standardized normal distribution, properties 2. Which of the following about the normal distribution is NOT true? a)
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Median: 57 Range 4 Second set of numbers: Mean: 56.14286 Median: 54 Range 23 B. Find the standard deviation using the range rule of thumb for each of the data sets. Please show your work. (Please see Chapter 4, Section 4.3, page 173 of the text).Standard deviation = 61 – 57 = 4 4 / 4 = 1 1 is the standard deviation using the range rule of thumb. Standard deviation = 69 – 46 = 23 23 / 4 = 5.75 5.75 is the standard deviation using the range rule of thumb. C. Compare the two sets and describe what you
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University of Phoenix Material Distribution, Hypothesis Testing, and Error Worksheet Answer the following questions. Questions that are answered without the work will not receive full credit. When a question says explain or describe, please DO NOT copy word for word from a reference. You need to explain the concept so I know you understand what it means. For questions requiring material from Statdisk, make sure to turn labels on, take a screen capture (CTRL-Print Screen on most Windows-based
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