Common Appraisal Errors Error Contrast Effect Definition Tendency of a rater to evaluate people in comparison with other individuals rather than against the standards for the job Example Think of the most attractive person you know and rate this person on a scale of 1 to 10. Now think of your favorite glamorous movie star. Rerate your acquaintance. If you rated your friend lower the second time‚ contrast effect is at work. A new supervisor noticed an employee who was going through a divorce performing
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Lab one is designed to determine fifteen sediment samples average grain size‚ sorting by size and mineralogy‚ rounding‚ sphericity‚ and Quartz/Feldspar/Lithic content as well as minerals present in each sample. In order to view the sample a stereoscope and light source is required. On the base of the stereoscope there is an insert that can either be black on one side and white when flipped to the other side. This insert can make viewing light or dark color samples easier due to the inserts backdrop
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3.1 Measures of Central Tendency (Page 1 of 16) 3.1 Measures of Central Tendency Mean‚ Median and Mode a. mean‚ x = Example 1 b. ! x = sum of the entries n number of entries Find the mean of 26‚ 18‚ 12‚ 31‚ 42 The median is the middle value of an ordered set of data. If there is an even number of data values‚ then the median is the mean of the two middle values. Example 2 Find the median of 25‚ 30‚ 37‚ 21‚ 38 Example 3 Find the median of 3‚ 7‚ 9‚ 4‚ 8‚ 2‚ 6‚ 5 c. The mode is the
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flow/discount rate-CF0 CPT IRR: Cash flow/IRR=CF0 Money-weighted return and time-weighted return Same question: buy stock $100 at t=0‚ buy another same stock $120 and receive $2 dividend at t=1‚ sell two stocks for $130/each and receive $2 dividend/each at t=3 For money weighted: apply the concept of IRR Deposit 100 at t=0‚ and deposit 118 (120-2) at t=1‚ and receive 264 at t=2 Use calculator: CF0=-100‚ CF1=-118‚ CF2=264‚ CPT→IRR For time-weighted (preferred‚ because not affected by timing of cash inflow
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Arithemetic mean ‐ The arithmetic mean of a variable is computed by adding all the values of the variable in the data set and dividing by the number of observations. Population arithmetic mean ‐ The population arithmetic mean‚ µ‚ is computed using all the individuals in a population and is a parameter. Sample arithmetic mean ‐ The sample arithmetic mean‚ x ‚ is computed using sample data and is a statistic. Mean – Although other types of means exist‚ the arithmetic mean is generally referred to as the mean
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meaningful essential can be extracted from it. The most commonly measures of central tendency are the mean‚ median‚ and mode. Properties of the Arithmetic Mean easy to compute easy to understand valuable in statistical tool strongly influence by extreme values‚ this is particularly true when the number of cases is small cannot be compute when distribution contains open-ended intervals Uses of Mean for interval and ratio measurement when greatest sampling stability is desired when
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Process Capability Assessment Control Charts for Individual Measurements Cumulative-Sum control charts Control Charts for Large Sample . . Statistical Process Control - Part II IE 330‚ Spring 2013‚ Instructor: Yu-Ching Lee March 14‚ 2013 1 / 127 Process Capability Assessment Control Charts for Individual Measurements Cumulative-Sum control charts Control Charts for Large Sample Use of the histogram Process Capability Indices Statistical Assignment of Tolerances Loss
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- Statistics is the science of collecting organizing‚ presenting‚ analyzing and interpreting data. It turns Data into information through transformation. Population ! - Everyone in group ! ! - µ is the mean ! - σ is the standard deviation Sample! - Some/Portion of group ! -x is the mean!! -S is the standard deviation Measurement Scales Types of Data Categorical/Qualitative Categorical/Qualitative Nominal! -Data has category but no order Data that can only be in categories ! ! -Example
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generally used in business: Arithmetic mean Geometric mean Harmonic Mean Median Mode Arithmetic mean: Arithmetic mean is defined as the sum of all observations divided by the total number of observations. Calculation of Arithmetic Mean-Ungrouped Data: For ungrouped data‚ arithmetic mean may be computed by applying any of the following methods: Direct method Short-cut method Direct method: The arithmetic mean‚ often simply referred to as mean‚ is the total of the values of a set of
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the slope obtaining by regressing the asset’s past returns with the corresponding returns of the average portfolio called the market portfolio. (The return of the market portfolio represents the return earned by the average investor. It is a weighted average of the returns from all the assets in the market). The larger the slope of an asset‚ the larger is the risk associated with that asset. A of 1.00 represents average risk. The return from an electronics firm’s stock and the corresponding
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