Variance Sampling Distribution from The Normal Distribution Sampling from A Finite Population ◦ Distribution of The Sample Mean ◦ Joint Distribution of X and S2 ◦ Approximate Distribution of The Sample Mean ◦ How Large A Sample Is Needed 2 1 10/24/2011 Recall definitions of: ◦ ◦ ◦ ◦ ◦ ◦ ◦ Population Sample Inferential statistics Sampling Random sampling Parameter Statistic 3 If X1, . . . , Xn are independent random variables having a common distribution F, g , then we say
Words: 661 - Pages: 3
1.10 Sampling Distributions The main objective of most statistical inference is to draw conclusion about the population parameters based on samples studies that is quite small in comparison to the size of the population. In order that conclusion of sampling theory and statistical inference valid, samples must be chosen so as to the representation of a population. For example, Television executives want to know the proportion of television viewers who watch that network’s program. Particularly
Words: 2931 - Pages: 12
* Both and are random variables * Both and have probability distribution called the sampling distribution of * Scetch sampling distribution is mean and standard deviation and shape. [-μ] or │- p│.= sampling error In order to solve a question you should know 3 things; mean of ; E() which is μ, the standard deviation of , called σ and of course the ‘shape’ is it a normal distribution? T distribution df(degrees of freedom)=n -1 A. Central Limit Theorem: in selecting
Words: 396 - Pages: 2
The Pareto principle is one of the important managerial tool that can be used to identify alternatives which are worthy of attention during decision making. (Grosfeld-Nir, Ronen & Kozlovsky, 2007). Named after an economist, Vilfredo Pareto, and also known as the 80/20 rule, he stated that, “20% of the population possesses 80% of the wealth” (Grosfeld-Nir et. al, 2007 para ii). Liebler and McConnell (2008) call it “a criterion for decision making” (p 155) which suggests that every persons need should
Words: 348 - Pages: 2
Part 1 First to get started with the project three 1.69 ounce bags of plain M&M’s were purchased from Walgreens, Rite-Aid and Dollar General. These bags will help with taking a sample of the population that is produced. Purchasing the bags from three different stores will help with the results of the project being meaningful because it is assured that the samples will be truly random. Random sampling is when all members of a group have an equal and independent chance of being selected. Next each
Words: 950 - Pages: 4
SMOR's Real Estate Dr. Yenumula SMOR's Real Estate Real estate is an active interest of mine that I decided to pursue as a career. This is a hard business to start. I am deciding whether to open my own firm or buy into an established firm. The Raleigh/Durham North Carolina, area appears to be rebounding from the recession in the housing market. The Raleigh/Durham area was listed as one of the best places to live. This has attracted people and companies. Many companies have made Raleigh/Durham
Words: 689 - Pages: 3
Steph wrote a while back that she was sad to see summer going. For me, especially the way this summer has gone, I can’t agree. Yes, I’ll definitely miss the Saints games. I’ll miss the nice days, but for me, this is the time of year when I’m looking ahead. I’m getting closer to finishing up the software I’ve been working on all summer long. I may actually even get to take a real vacation in a month or two. Plus, with the advent of cooler evenings, I’m actually able to open the windows at home and
Words: 667 - Pages: 3
Chapter 6 ~ Continuous Distributions Section 6.1 Uniform Distributions Formula Example Suppose a production line is set up to manufacture machine braces in lots of five per minute during a shift. When the lots are weighed, variation among the weights is detected, with lot weights ranging from 41 to 47 grams in a uniform distribution. Determine the probability that a lot weights between 42 and 45 grams Mean and Standard Deviation µ=(a+b)/2 σ=(b-a)/sqrt(12) Section 6.2
Words: 298 - Pages: 2
STOCHASTIC FRONTIER ANALYSIS 1 MOTIVATION • Usual textbook presentations treat producers as successful optimizers. They maximize production, minimize cost, and maximize profits. • Conventional econometric techniques build on this paradigm to estimate production/cost/profit function parameters using regression techniques where deviations of observed choices from optimal ones are modeled as statistical noise. • However though every producer may attempt to optimize, not all of them may succeed
Words: 5436 - Pages: 22
SHOWS A) THE GENERAL SHAPE OF A DISTRIBUTION 14) THE TEST SCORES FOR A CLASS OF 147..... A) 111 15) THE NATIONAL CENTER FOR HEALTH STATISTICS REPORTED THAT EVERY 883 DEATHS... A) 24/883 OR 0.027 16) IF TWO EVENTS A AND B ARE MUTUALLY EXCLUSIVE WHAT DOES THE SPECIAL.... A) P(A OR B) = P(A) + P(B) 17) A LISTING OF ALL POSSIBLE OUTCOMES OF AN EXPERIMENT.... B) PROBABILITY DISTRIBUTION 18) THE SHAPE OF ANY UNIFORM PROBABILITY DISTRIBUTION IS.. C) RECTANGULAR 19) THE
Words: 491 - Pages: 2
