forecasted demand. As oppose to determining a single profit value in the deterministic approach‚ the probabilistic method will incorporate the uncertainty in estimated demand and provide insights of the range of profit outcomes and its associated risk (deviation from mean). The key issue is to understand impact of demand uncertainty and production level to the profit range and its distribution. In this case‚ we will determine the optimal decision variables (jacket production quantity) that will maximize
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to 23‚ a 21 point drop. The average drop in T scores was 9.6 representing a decline of 20% from the baseline‚ patient 4 almost doubled the average decline. 4. What is the mean (overbar above X ) and standard deviation (SD) for preoperative T score for CVLT Acquisition? Mean: 45.9 Standard Deviation: 5.2 5. Is the preoperative Retrieval T score for Patient 5 above or below the mean for the norm of the group? Provide a rationale for your answer. Above the mean for the norm of the group. Patient 5
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types of z test that will be taken up. Lesson 1: z-test of Hypothesis about a Population Mean Before the z-one population test of hypothesis about a population mean is applied‚ certain assumptions must be met: (1) The (population standard deviation) is known. (2) The data are either interval or ratio. (3) Only one group is specified. (4) The distributions of the scores follow the normal distribution. A special table called the z-table is used to facilitate the
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-------------------------------------------------------------------------------- 6 BASIC STATISTICAL TOOLS There are lies‚ damn lies‚ and statistics...... (Anon.) -------------------------------------------------------------------------------- 6.1 Introduction 6.2 Definitions 6.3 Basic Statistics 6.4 Statistical tests -------------------------------------------------------------------------------- 6.1 Introduction In the preceding chapters basic elements for the proper
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comparisons specifically for multiple methods compared to a gold standard. Methods: The average between a new method and the gold standard is represented as a percentage of the gold standard. This is interpreted as a percentage similarity value and accommodates wide ranges of data. The representation of the percentage similarity values in a histogram format highlights the accuracy and precision of several compared methods to a gold standard. The calculation of a coefficient of variation further defines
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necessary. A sample space A list of all possible outcomes of an experiment Event Sub-set of possible outcomes of an experiment. Normal Distribution Bell shaped curve symmetrical about mean; mean = mode = median 95% of data lies within 2 standard deviations of mean 2 conditions for skewness Positive skew if ( Q3 − Q2 ) − ( Q2 − Q1 ) > 0 and if Mean − Median > 0 . Negative skew if ( Q3 − Q2 ) − ( Q2 − Q1 ) < 0 and if Mean − Median < 0 . Independent Events P ( A ∩ B) = P( A) × P( B) Mutually Exclusive
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vice presidents of marketing in the manufacturing sectors viewing pricing as the most important marketing area. 3. A professor of finance has administrated a standard examination to his students in an introductory course over a period of several years. He has found that the scores follow with mean 75.2 and standard deviation 10.4. The professor takes a years leave of absence to teach at another university‚ where‚ at the end of his course‚ he administers the same examination to 20 students
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Question 1 a. Mean age = 960/20=48 b. Standard Deviation = 10.74832 Web address: http://easycalculation.com/statistics/standard-deviation.php Frequency distribution table for denomination. Score f(frequency) 1 1 2 2 4 2 5 1 6 3 7 3 8 1 9 3 10 3 12 1 N=30 c. What is the percentage of people who identify themselves as Baptist? 3/20 = .15 x 100 = 15% What is the mode of church attendance? 5 Question
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Quantitative methods Time value of money Effective annual rate (EAR) Effective annual rate (EAR) = (1+stated annual rate/frequency‚ m) ^ m-1 Annuities Ordinary annuities: cash flow at the end of each period‚ normal one; Annuities due: cash flow at the beginning of each period‚ first payment =t0; Calculator setting: [2nd][BGN]-[2ND][SET]; same procedure for setback to END; Payment at beginning of next three years‚ N=4‚ always +1 using annuities due It is a BGN question‚ if first payment is today
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which the performance of portfolio in a given period of time is measured. In Sharpe index‚ three things must be known: the portfolio return‚ the risk free rate of return - use the average return (over the given period of time). the standard deviation of the portfolio – it is measure the systematic risk of the portfolio. The ratio describes how much excess return you are receiving for the extra volatility that you endure for holding a riskier asset Properly compensated for the additional
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