* Columns correspond to Variables
* Rows correspond to individuals
* Rows are often called observations or cases
* The number of rows is traditionally denoted by n
* In the bar chart the height of each bar is proportional to the count (or percent) in each category * In the pie chart the area of each piece is proportional to the percent of individuals in each category * Pareto chart when the categories are sorted by frequency * Pie charts are less useful than bar charts if we want to compare actual counts (easier to compare bars than angles of wedges) * The area occupied by a part of the graph/chart that displays data should be proportional to the amount of data it represents * Categorical variable: the category with the highest frequency * Numerical variable: location of a major peak of the distribution * Mean = center of mass = the balance point

* Define first quartile to be the median of the observations below the median * Define third quartile to be the median of the observations above the median * The interquartile range IQR is Q3 - Q1

*
* Coefficient of Variation: defined as the ratio of SD to the mean, has no units, usually is expressed as a percentage, indicates how large SD is relative to the mean * IQR: Robust measure (same as the median), Has the same units as the observations * S: NOT a robust measure (same as the mean), Has the same units as the observations, s=0 if and only if all the observations are equal * The central box spans the quartiles Q1 and Q3.

* The line in the box marks the median M.
* The whiskers extend out to the smallest and largest observations * A density describes the overall pattern of a distribution. The area under the curve and above any range of values is the relative frequency of all observations that fall in that range. * Uniform Density = flat

* A mode of a density curve is a peak point of the curve
* The median of a density curve...

...QMS 202 Quiz #1 Crib Sheet
Inferential statistics is the process of using sample results to draw conclusions about the characteristics of a population
Mean: Standard Deviation:
If population of individual measurements is normal, x is normal
Sample size (n ≥ 30), x is normal
To convert any random variable X to standardized normal random variable Z:
To determine the percentile using z-score, use normalcdf(lower, upper, mean, standard deviation).
To determine Z using the given area from the left of the bell curve and standard deviation, use invNorm(probability, mean, standard deviation). If using the right, use invNorm(1 – probability, mean, standard deviation).
Confidence interval when standard deviation is known:
When standard deviation is unknown, use T.
Is population proportion (p) normal? np ≥ 5 and n(1-p) ≥ 5
To determine confidence interval when giving p = x/n, use 1-PropZInt
QMS 202 Quiz #1 Crib Sheet
Inferential statistics is the process of using sample results to draw conclusions about the characteristics of a population
Mean: Standard Deviation:
If population of individual measurements is normal, x is normal
Sample size (n ≥ 30), x is normal
To convert any random variable X to standardized normal random variable Z:
To determine the percentile using z-score, use normalcdf(lower, upper, mean, standard deviation).
To determine Z using the...

...Chapter 3
Standard units tell you how many standard deviations above or below average a data value is
standard units = (actual value – average)/SD
actual value = average + (SD x standard units). Standard units are denoted by Z.
Chapter 8
Complement rule: P(A) = 1 – P(A doesn't happen)
Multiplication rule:
P(A and B both happen) = P(A) x P(B given A happened)
Q. 5 random components removed one at a time from box containing 5 defective and twenty working. What is chance of selecting all defective:
A. 5/25x4/24x3/23x2/22x1/21. Selecting no defective 1 minus chance of selecting all defective or 20/25 x 19/24 x 18/23 x 17/22 x 16/21 = 2/7 or 29%
Q. Important data server breaks down 40% of the time, is operational the other 60%, and servers breakdown independently. How many independent servers should be running so that there is a 99% chance at least one is operational? (40%)^X = 1% (1% = chance none are operational)
A. .4^5 = .01024, so to get to .99 uptime, add another server.
Q. Consider two bonds with BB- ratings, chance of default 1.5%. What is the probability that both default within a year? A. .015 x .015 Q. What is the probability that neither defaults? A. .985 x .985 Q. What is the probability that exactly one defaults? A. P(exactly one) = 1 – P(neither) – P(both) = 1 - .015 x .015 - .985 x .985.
Independent: P(firm B defaults given A defaults) = P(firm B defaults) = .015
Dependant: P(firm A and B default) = P(firm A defaults) x P(firm B defaults given...

...Statistics – body of principles and procedures developed for collecting, summarizing, and interpreting data
Chapter 1
– Distribution – describes what values the variable takes and how often
– Pie Charts/Bar Graphs – categorical
– Histograms/Stem plots – quantitative
– Data set has info on number of individuals
– For each individual, data gives values for variables
– When looking at graph…
o Center – middle of data
o Shape – symmetry or skewed
o Spread – range of data
Chapter 5
– Regression used to predict data
– ¬¬¬ , least-squares regression line
o passes through (x, y)
o b = r (Sy/Sx), a = y – bx
– r2 = fraction of variation in one variable that is explained by least-squares on the other variable
– Extrapolation – values in regression outside of data range
– Correlation ≠ Causation
Chapter 2
– Numerical summary provides center & spread
– Mean & median are different (average/midpoint)
– Five-number Summary – min, Q1, M, Q3, max
o Outlier = 1.5 x (Q3-Q1) ± Q1/Q3
– Variance (s2) and Standard Deviation (s) measure spread of distribution, gets larger as spread increases
– Median and quartiles are resistant, mean and standard deviation are not
– Mean and standard deviation are for symmetric distributions
– 5-number summary is for skewed distributions
Chapter 3
– Density curve has total area of 1, rel. freq/interval
o Idealized description of overall pattern, smoothens it out
o Mean of D curve is µ, st. dev is σ
o Mean is balance...

...Random Sample: each member of the population has the same chance of being selected
Representative Sample: characteristics should represent those of the target population without bias
Observational Study: no intervention by the investigator, no treatment imposed
Experimental Study: investigator has some control over the determinant
Variables:
Categorical – each observation falls into a finite number of groups
Nominal: named variables with no implied order e.g. personality type
Ordinal: grouped variables with implied order e.g. level of education
Continuous – measured variables
Discrete: take discrete values e.g. number of children
Numerical: can assume any value within a certain range/interval e.g. height
Types of Designs:
True experiment: researcher has potential to randomly allocate observations to conditions
Quasi-experiment: demonstrate a relationship between an IV/DV researcher makes use of naturally occurring groups, cant make cause and effect statements
Non-experiments (correlation design): question if there is a relationship between variables, cant make cause & effect statements
Between groups: two groups being compared on some outcome measure
Within-subjects: participants experience each condition of an IV, with measurements of some outcome taken on each occasion
Extraneous variables: variable present in an experiment, which might interfere with the relationship between IV & DV
Confounding variables: mediating variable...

...Accrued Interest = x Nominal Return = Real Return = – 1 Real rate of return Compounding = rnominal-inflation rate
Current yield = The invoice price is the reported price plus accrued interest The ask price is 101.125 percent of par, so the invoice price is: $1,011.25 + (1/2 $50) = $1,036.25
Effective annual rate on a three-month T-bill: Optimal capital allocation: Y= E(rp)- Rf / A(std)^2portfilio
– 1 = (1.02412)4 – 1 = 0.1000 = 10%
Effective annual interest rate on coupon bond paying 5% semiannually:
(1 + 0.05)2 – 1 = 0.1025 = 10.25%
The effective annual yield on the semiannual coupon bonds is (1.04)2 -1 = 8.16%. after tax yield = (taxable yield)*(1-tax rate)
Holding period return =
Price of a Zero-Coupon Bond =
Bond Equivalent YTM = Semi-annual YTM 2
The bond is selling at par value. Its yield to maturity equals the coupon rate, 10%. If the first-year coupon is reinvested at an interest rate of r percent, then total proceeds at the end of the second year will be: [100 (1 + r) + 1100]. Therefore, realized compound yield to maturity will be a function of r as given in the following table:
r
Total proceeds
Realized YTM = = 1
8%
$1,208
– 1 = 0.0991 = 9.91%
10%
$1,210
– 1 = 0.1000 = 10.00%
12%
$1,212
– 1 = 0.1009 = 10.09%
HPR =
Time-weighted average returns are based on year-by-year rates of return. Portfolio= (1-y)(risk free) + (y)(equity index)
Year
Return = [(Capital gains + Dividend)/Price]
2010-2011
(110 –...

...RESIDES (PERSON_NAME, STREET, CITY, STATE)WORKS (PERSON_NAME, COMPANY_NAME, SALARY)ADDRESS (COMPANY_NAME, CITY, STATE, ZIP)MANAGES (PERSON_NAME, MANAGER_NAME)
3. Find all employees who live in the same city and street as their manager (3 pts)
SELECT R.PERSON_NAME, M.MANAGER_NAME, R.STREET, R.CITY, R2.STREET, R2.CITY
FROM RESIDES R, MANAGES M, RESIDES R2
WHERE R.PERSON_NAME = M.PERSON_NAME AND M.MANAGER_NAME =
R2.PERSON_NAME AND R.STREET = R2.STREET AND R.CITY = R2.CITY
4. Find all persons who do not work for any company (3 pts)
SELECT R.PERSON_NAME
FROM RESIDES R
EXCEPT
SELECT W.PERSON_NAME
FROM WORKS W
5. Find the number of employees for each of the managers (3 pts)
SELECT M.MANAGER_NAME, COUNT(*) AS ‘# of Employees’
FROM MANAGES M
GROUP BY M.MANAGER_NAME
6. Give all employees of ‘Nutiva’ a salary raise of 10% (2 pts)
UPDATE WORKS W SET SALARY = SALARY * 1.1
WHERE W.COMPANY_NAME = ‘Nutiva’
7. Layoff all employees of ‘LiveChat’ (3 pts)
DELETE FROM MANAGES
WHERE PERSON_NAME IN
(SELECT PERSON_NAME
FROM WORKS
WHERE COMPANY_NAME = 'LiveChat')
DELETE FROM WORKS
WHERE COMPANY_NAME = ‘LiveChat’
8. Give all managers of ‘Zubecon’ a 10 percent raise, unless their salary becomes greater
than $120,000. In such cases, give only a 4% raise. (5 pts)
UPDATE MANAGES M, WORKS W SET W.SALARY = W.SALARY*1.04
WHERE M.MANAGER_NAME = W.PERSON_NAME AND W.COMPANY_NAME =
‘Zubecon’
AND W.SALARY*1.1 > 120000;
UPDATE MANAGES M, WORKS W SET W.SALARY = W.SALARY*1.1
WHERE M.MANAGER_NAME = W.PERSON_NAME...

...1. The sociological perspective, as a way of thinking about the world, includes the sociological imagination from C. Wright Mills, the beginner’s mind from Bernard McGrane, and the idea of culture shock from anthropology. Explain what all three of these concepts have in common.
Response: All three of these concepts have in common are the idea of breaking down social barriers to gain a different perspective on culture people and behaviors. When a person is in a new area where the culture is different it is betters to break down walls and keep an open mind they all deal with society and the differences they may have compared to the one a person is accustomed to.
2. Sociologists often have to decide if they are going to adopt a microsociological or a
macrosociological approach in any given project. Explain how these perspectives differ, paying
special attention to the different assumptions about how society works that are contained within each perspective. In other words, considering the starting point of each perspective, what do they seek to reveal?
Response: the way in Macrosociology and microsociology differ are that they deal with different societal issues for example Macrosociology deals with issues of bigger groups that affect effect the whole such as health care, war, and the economy and microsociology is looking more at the small everyday interactions with individuals or smaller groups. For examples family or schools and other small interactions...

...Cycle time: Bottleneck| Cycle time = 1/Capacity rate | | Inventory = Throughput Rate x Flow Time | Little’s Law: I = R x T | Inventory Turns (IT) = 1 / Flow time (T) = R / I |
BCWS = Budgeted Cost of Work Scheduled BCWC = Budgeted Cost of Work Complete |ACWC = Actual Cost of Work Complete
| Cost Variance CV = BCWC – ACWC | Schedule variance SV = BCWC – BCWS |
Utilization=Demand /CAPACITY| Inventory Buildup rate IBR|No IBR if no stations limits Throughput rate| Capacity rate = 1 / Cycle time = 1/55 /second | Convert to hourly base: 3600 seconds/hr * Capacity Rate |
Business strategy should by compatible with operational structure that is with the Order Winners=Cost/ price, Quality, response time (delivery lead time)-speed, flexibility/variety.| Slack time = late start – late finish, duration = total length of critical path longest time.| Expected Time = Optimistic Time + 4(Likely Time) +
LD score (i, j) = Load (i, j) x Distance (i, j)
Flow Time Analysis
Cycle time: Bottleneck
Total operation time
Operation time = Labor time associated with one product
Flow time
Flow time (item) = Operation Time + Delay
Delay = Aging + WIP + Other possible delays (Rework)
Flow time efficiency
Theoretical flow time / Actual flow time
Recall the other efficiencies
Class 06 – Basic Tools of Process Design
Efficiency = Sum of tasks time / (Actual # of stations Required cycle time)
Class 07 – Samsung International
Labor efficiency =...