can I simulate values of a discrete random variable? * How can I simulate values of a normal random variable? * How can a greeting card company determine how many cards to produce? * Problems Overview * Who uses Monte Carlo simulation? * What happens when I type =RAND() in a cell? * How can I simulate values of a discrete random variable? * How can I simulate values of a normal random variable? * How can a greeting card company determine how many cards to produce
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CHAPTER 1 Individuals are the objects described by a set of data. Individuals may be people‚ but they may also be animals or things. A variable is any change of an individual. A variable can take different values for different individuals. A categorical variable places an individual into one of several groups or categories. A quantitative variable takes numerical values for which arithmetic operations such as adding and averaging make sense. The distribution of a variable tells us what values
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[pic] ARMY PUBLIC SCHOOL AND COLLEGE‚ JHELUM CANT Paper: Statistics Pre- Board 2012 (Objective) Marks: 18 Time: 30 min Name: ………………………………………………………………………… Section: ………………… SECTION-A (18 Marks) | |Select the correct answer. Cutting or over writing is not allowed. | | | |If in a table all possible values of a random variable are given with their corresponding probabilities‚ then its
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Exam Name___________________________________ Instructions: Read all the questions carefully and show all your work for full credit. All answers must be supported by correct work to receive full credit. SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. Solve the problem. 1) Multiple-choice questions on a test each have 4 possible answers‚ one of which is correct. Assume that you guess the answers to 4 such questions. a. Use the multiplication rule to
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central tendency reports the value that occurs most often? A. Mean B. MedianC. ModeD. Geometric mean 4) Which level of measurement is required for the median? A. Nominal B. OrdinalC. IntervalD. Ratio 5) The mean and the variance are equal in…A. the normal distributionB. the binomial distributionC. the Poisson distributionD. the hypergeometric distribution 6) The difference between the sample mean and the population mean is called the…A. margin of errorB. population standard deviationC. standard error
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Chapter 6 Continuous Probability Distributions Case Problem: Specialty Toys 1. Information provided by the forecaster At x = 30‚000‚ [pic] [pic] Normal distribution [pic] [pic] 2. @ 15‚000 [pic] P(stockout) = 1 - .1635 = .8365 @ 18‚000 [pic] P(stockout) = 1 - .3483 = .6517 @ 24‚000 [pic] P(stockout) = 1 - .7823 = .2177 @ 28‚000 [pic]
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Standard Deviation σ = 24.24 s The fraction of days when hold time exceeded 110 s = P(x>110) =? Mean of a distribution (μ) and a data point (x) is related by the following equation: x = μ ± zσ For x > 110 s; XY Value of XY is area under normal curve between z = 0 to z = 0.43. Thus‚ approximately 1/3 or 0.336of days the call center failed to meet the targeted hold time. On the frequency distribution table this fraction is represented as 240/731 = approximately 1/3. ------------------
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Statistics for Management Unit 9 Unit 9 Testing of Hypothesis in Case of Large and Small Samples Structure: 9.1 Introduction Objectives Relevance Assumptions 9.2 Testing Hypothesis Null and Alternate hypothesis Interpreting the level of significance Hypothesis are accepted and not proved 9.3 Selecting a Significance Level Preference of type I error Preference of type II error Determine appropriate distribution for the test of Mean 9.4 Two–tailed Tests and One–tailed Tests
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that a square will have more than 3 live adult insects. (2 points) 4. Use the normal approximation to compute the probability that between 50 and 75 of 100 white blood cells will be neutrophils‚ where the probability that any one cell is a neutrophil is 0.6. These values are chosen as proposed limits to the range of neutrophils in normal people and we wish to predict what proportion of people will be in the normal range according to this definition. (5 points) 5. The probability that a baby
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University of Phoenix Material Time to Practice – Week Two Complete Parts A‚ B‚ and C below. Part A 1. Why is a z score a standard score? Why can standard scores be used to compare scores from different distributions? 2. For the following set of scores‚ fill in the cells. The mean is 74.13 and the standard deviation is 9.98. Raw score Z score 68.0 ? ? –1.6 82.0 ? ? 1.8 69.0 ? ? –0.5 85.0 ? ? 1.7 72.0 ? 3. Questions 3a through 3d are based on a distribution of scores with and the standard
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