examples and end of section exercises that can be used as a guide. Be sure to show your work in case partial credit is awarded. To receive full credit, work must be shown if applicable. Section 4.1 Probability Distribution 1. Decide whether the random variable is discrete or continuous. (References: example 1 page 195, end of section exercises 13 – 20 page 201) (1 point per each part) a. The cost of a randomly selected apple continuous b. The height of randomly selected
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1) The following table contains age and weekly earnings (wage) of randomly sampled dependent workers in Germany: Wage Age 962 50 571 23 777 38 692 26 780 31 875 40 723 28 918 52 We are interested in the following relationship between wage and the workers' age: wagei = β0 + β1 · agei + ϵi
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Syllabus Cambridge International A Level Further Mathematics Syllabus code 9231 For examination in June and November 2013 Contents Cambridge A Level Further Mathematics Syllabus code 9231 1. Introduction ..................................................................................... 2 1.1 1.2 1.3 1.4 Why choose Cambridge? Why choose Cambridge International A Level Further Mathematics? Cambridge Advanced International Certificate of Education (AICE) How can I find out more? 2
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with a set of random numbers based on 100 breakdowns a year. Then, a vlookup was used and the probability distribution per day to come up with the days to repair, which varies based on the random number that excel generates. The random number represents the probability of how many days it would take to repair the copier. Interval between breakdowns The formula is x=4√r1 as espoused by Taylor III (2011)where x equals the weeks between machine breakdowns and r1 equals the random number was used
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JET Copies: The Decision to Purchase a Backup Copier Businesses are continually faced with difficult and challenging decisions, especially those regarding revenue and whether or not to spend money on situations that may or may not occur, based on speculation or perception. There may be several techniques a business can employ to analyze if perceived investments will produce a desired return and subsequently, profit. Simulation is an analytical process that supports business planning objectives
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passengers: Men Women Boys Girls Survived 332 318 29 27 Died 1360 104 35 18 (a) (2.5 points) If one of the Titanic passengers is randomly selected, find the probability of getting someone who is a girl or boy. (b) (2.5 points) Given that we select a random person who survived, what is the probability of getting boy? (c) (2 points) Suppose that boys who survived, went for cruise at the rate of six per year. Using the Poisson distribution, what would be the mean and standard deviation of the number
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descriptive statistics and graphical methods. 2) Understand the concept of probability and to be able to calculate probabilities required in order to perform statistical inferences. 3) Understand the concept of a random variable and use discrete and continuous random variable and their corresponding distributions to calculate probabilities. 4) Understand the concept of a sampling distribution and be familiar with the primary sample statistics and their distributions. 5) Estimate
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experiment is more accurate). Comment on the validity of the results. (if accuracy and reliability used wrongly, means A2 is D) c) A discussion of errors and their impact on the results * Sources of Random error * Sources of Systematic error * Distinguish between random and systematic errors d) Evaluation of procedures * strengths and weaknesses of the experimental design * Discuss importance of having a large sample size * Discuss importance of repeating an
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1. In the following examples, identify the response variable and the explanatory variables. a. Attitude toward gun control (favor, oppose), Gender (female, male), Mother’s education (high school, college). EXPLANATORY: Gender (female, male), Mother’s education (high school, college); RESPONSE: Attitude toward gun control (favor, oppose). b. Heart disease (yes, no), Blood pressure, Cholesterol level. EXPLANATORY: Blood pressure, Cholesterol level; RESPONSE: Heart disease (yes, no)
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Midterm Review A few pointers PORTFOLIO THEORY Expected returns • As we talk about annual expected returns, keep in mind what they are: E(D1 ) + E ( P1 ) E(ri ) = -1 P0 E(D1 ) E(P1 ) - P0 = + P0 P0 Risk • As time passes, realized stock prices and dividends may differ from what you expected. • Such future deviations from expectations represent, from today’s perspective, risk. • Standard deviation measures this risk (“average deviation from expectation”). Portfolios
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