Test1- Answer Key Business Statistics Chapter I: 1.Which scale of measurement can be either numeric or nonnumeric? a. | Nominal | b. | Ratio | c. | Interval | d. | None of these alternatives is correct. | ANS: A PTS: 1 TOP: Descriptive Statistics 2.Which of the following can be classified as quantitative data? a. | interval and ordinal | b. | ratio and ordinal | c. | nominal and ordinal | d. | interval and ratio | ANS: D PTS: 1 TOP: Descriptive Statistics 3.A
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Winter Quarter 2012 Days to repair method is based on discrete probability distribution that assigns a probability to the number of days provided and thus assumes results in clearly separated values. The model makes use of the discrete distribution to calculate the central tendency and this may also be referred to as weighted average. The model determined mean multiplying the number of days with the corresponding probability and the results were summed up. The results indicate that once a copier
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Simulation of loss of revenue for JET copiers due to breakdown. The probability of machine repair time is discrete. We use the Monte-Carlo process to generate random numbers. In the Monte Carlo process, values for a random variable are generated by sampling from a probability distribution. We will transfer the ranges of random numbers for each Repair time value to a table Repair Time,y | Probability of repair time | Cumulative probablility | Ranges of Random number | 1 | 0.20 | 0.2 | 0-0.2
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STAT 2606 Assignment # 3 Fall 2013 Last Name ——————————————- , Student # ———————— Lab section (Important) ———————– Due in class: Tue. Nov. 12 First ———————- Total mark=100. Marks for each question are given in [ ] Part I. Lab questions. Use only blanks left to answer lab questions. Provide all histograms you are asked to print, but DO NOT print data you are asked to generate. 1. Continuous distributions: Generate and store in column c1 10,000 values from the uniform distribution on
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1 Mathematics for Management Concept Summary Algebra Solving Linear Equations in One Variable Manipulate the equation using Rule 1 so that all the terms involving the variable (call it x) are on one side of the equation and all constants are on the other side. Then use Rule 2 to solve for x. Rule 1: Adding the same quantity to both sides of an equation does not change the set of solutions to that equation. Rule 2: Multiplying or dividing both sides of an equation by the same nonzero number
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To begin the simulation, I used the table given in the case study that showed the repair times (days) with the corresponding probability to create a cumulative probability for the discrete distribution to generate the number of days needed to repair. To do this we added the first probability to the first cumulative probability to generate the second cumulative probability for 2 days of repair and so on. Next, I had to generate a method for simulating the intervals between successive breakdowns
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Students will learn how to use a probability distribution to answer questions about possible values of a random variable. • Students will learn how to calculate the mean and standard deviation of a discrete random variable. • Students will learn how to interpret the mean and standard deviation of a random variable. Random Variable – Probability Distribution - Discrete Random Variable - The probabilities of a probability distribution must satisfy two
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Part I (Chapters 1 – 11) MBA 611 STATISTICS AND QUANTITATIVE METHODS Part I. A. Review of Basic Statistics (Chapters 1-11) Introduction (Chapter 1) Uncertainty: Decisions are often based on incomplete information from uncertain events. We use statistical methods and statistical analysis to make decisions in uncertain environment. Population: Sample: A population is the complete set of all items in which an investigator is interested. A sample is a subset of population values. & Example:
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Throw a fair dice once. What is the sample space? What is the probability to get “six”? What is the probability to get “six” or “five”? Define variable X to be { 1,2,……6} Probability to get a 6 is P(six)=P(X=6) = 1/6 Probability to get a 5 or 6 is 1/3 The sample space is the set of all possible outcomes. Sample space = {(one)(two)…(six)} b. Throw a fair dice 10 times. What is the probability to get “six” twice? What is the probability to get six at least twice? Define random variable X to
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Online Reference & Tools Home>Math>Math symbols> Math symbols Mathematical Symbols List of all mathematical symbols and signs - meaning and examples. Basic math symbols Geometry symbols Algebra symbols Probability & statistics symbols Set theory symbols Logic symbols Calculus & analysis symbols Number symbols Greek symbols Roman numerals Basic math symbols Symbol Symbol Name Meaning / definition Example = equals sign equality 5 = 2+3 ≠ not equal sign inequality 5 ≠ 4 > strict inequality
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