DESCRIPTION Analytical techniques at this level attempts to supplement earlier study of the elements of statistical sampling and other mathematical techniques. While, this unit provides opportunities for students to deal with situations involving probability, descriptive and inferential statistics, regression analysis and other basic mathematical tools used by business analysts at their workplaces, it intends to further expand student’s ability and interest into the area of economic research. Though
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Tendency/Location (Mean/Mode/Median) c. Dispersion, Measures of Dispersion (Variance/SD/Quartiles/Percentiles/Ranges) and its relevance to Risk Management d. Correlations 2. Introduction to Probability Theory a. Random variables b. Probability and its uses c. Probability Rules d. Conditional Probabilities e. Probability Distributions (Single Variable) i. Continuous Time/Discreet Time; Continuous Value/ Discreet
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template to create my model. I used the discrete distribution table shown on page 679 to gather my information that stipulated repair times in days with the corresponding probability. The probability distribution was located on page 679 as well and gave a 0 to 6 week timeframe between break downs. I used the continuous probability function in excel to show the values. To compute the loss of revenue over 1 year I calculated all values then divided them by the cumulative total divided by 52 weeks
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Chapter 5 Quiz Review: Probability Distributions & Expectation **Are the following valid probability distributions? (yes or no) If not, state a reason. 1) |X |30 |31 |32 |33 |34 | |P(X) |0.35 |0.21 |0.38 |0.25 |0.11 | Σ X = 0.35 + 0.21 + 0.38 + 0.25 + 0.11 = 1.3 ≠ 1 No, the sum of
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Kellogg Mathematical Methods for Management Decisions Page 1 of 37 DECS – 433 Excel Functions and Tools DECS - 433 requires knowledge of various Excel functions and tools. This document attempts to explain and summarize your basic responsibilities in this regard. The information is presented in the following general categories: • Basic Excel Functions SUM PRODUCT SUMPRODUCT • MAX MIN Excel Functions Commonly used in Simulation RAND RANDBETWEEN IF IF(RAND( ) … ) IF( … IF( … )) IF(AND
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Cauchy Distribution The Cauchy distribution, also called the Lorentzian distribution or Lorentz distribution, is a continuous distribution describing resonance behavior. It also describes the distribution of horizontal distances at which a line segmenttilted at a random angle cuts the x-axis. Let represent the angle that a line, with fixed point of rotation, makes with the vertical axis, as shown above. Then | | | (1) | | | | (2) | | | | (3) | | | | (4) | so the distribution
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Pharmacol | | | Biopart | | Probability of success | 40% | | | Probability of success | 40% | | Probability of failure | 60% | | | Probability of failure | 60% | | Revenue of success | 409.5 | | | Revenue of success | 931.9 | | Revenue of failure | 18 | | | Revenue of failure | -35 | | Total | $ 174.60 | million | | Total | $ 351.76 | million | Table 1: The expected values of deals with Pharmacol and Biopart dependent on their probability of success and failure and the
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Joint Probability Distributions Example: Let X and Y be jointly continuous random variables having joint density f (x, y) = 3y 0 for 0 ≤ x ≤ y ≤ 1, otherwise. Sketch the domain of f as well as f . T E © Determine P (Y ≤ 2X). 1 Jointly Discrete Probability Distributions Definition 5.1: Let X and Y be discrete random variables. The joint probability mass function of X and Y is p(x, y) = P (X = x, Y = y) which is defined for all x and y. Remark: The joint distribution can
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estimated probabilities of the lease renewal. The capitalization rate after one year can also be assumed to randomly vary between 8% and 10%. After one thousand iterations of this probability weighted scenario analysis, we can arrive at a range of the possible property prices in the future. The distribution of the present value of these property prices is shown in the histogram below. The distribution of the histogram can be assumed approximately normal. Under such an assumption, the probability of the
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Written Case Analysis Background: Beta Company is a manufacturing company that produces two products, A and B. Problem Statement: To compute the actual cost of each product, compare the result to the standard and interpret the same using variance analysis. Answers and Interpretation: |1 |Material Price Variance (Material X)= |$23,400.00 |F |Material X |$14,400.00 | | |Material Price Variance (Material Y)=
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