COURSE SYLLABUS BMGT 230 - BUSINESS STATISTICS Summer Session 0301 - 2014 Instructor Information Professor: Frank B. Alt (falt@rhsmith.umd.edu ) Office: 4323 Van Munching Hall (VMH) Office Hours: After all teaching days (2:00-3:00 p.m.) and by appointment Office Phone: 301-405-2231 Course Assistant Mr. Daniel Klein Office Hours: After all class days (except 6/19) from 3:00pm – 4:30pm Office: 4308 Email: dklein99@terpmail.umd.edu Class Information
Words: 2335 - Pages: 10
and on this account there seems to be particular reason for thinking that a communication of it to the Royal Society cannot be improper. He had, you know, the honour of being a member of that illustrious Society, and was much esteemed by many as a very able mathematician. In an introduction which he has writ to this Essay, he says, that his design at first in thinking on the subject of it was, to find out a method by which we might judge concerning the probability that an event has to happen, in given
Words: 14334 - Pages: 58
S9999 S9998 S1 S0 Now suppose that the ratios Rk = SSk that appear in Equation 1.1 that represent the growth factors k−1 in price over each interval of length 0.001 are random variables, and—to get a simple model—are all independent of one another. Then Equation 1.1 writes S(10) as a product of a large number of independent random
Words: 5362 - Pages: 22
Welcome to… π ∑θ Business statistics (MA-205) 1 Business Statistics π ∑θ Why study Business Statistics? • To become a better consumer of other people’s data • To facilitate communication • To improve computer skills • To overcome either too little or too much information • To develop technical literacy • To improve career mobility 2 Business Statistics π ∑θ Lecturer: Business Statistics Ammara 3 Business Statistics π ∑θ Lecture Overheads and Textbook
Words: 865 - Pages: 4
probability rules Random variables and associate concepts Normal distributions Reading: Chapter 2 (1-7), Chapter 3 (1-5, 10-11) and Chapter 4 (1-8) (1 8) Homework: Replicate and complete all the classroom exercises. Print answers of 2.1 (b-c-d), 2.3 (b-c-d) and 2.4(b-c-d) in one (1) page. 1 Business Statistics Lesson 2 - Page 2 Objectives At the end of the lesson, you should be able to: Define and apply the basic probability rules Describe the basic concepts related to random variables
Words: 867 - Pages: 4
done by generating random numbers from given probability distributions. The different steps of this simulation and assumption made are explained below. 1. Simulation for the repair time. It is given that the repair time follows Repair Time (days) Probability 1 .20 2 .45 3 .25 4 .10 ----- 1.00 To generate a random number from the above distribution, we use the following procedure. Generate a random number denoted by r2 from between 0 and 1. If this generated random number is less than
Words: 736 - Pages: 3
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
Words: 11009 - Pages: 45
An Advanced Finite Element Reliability Tool for Stray Current Corrosion Assessments W.H.A. Peelen and W.M.G. Courage*. TNO Built Environment and Geosciences, P.O. Box 49, 2600 AA Delft, The Netherlands, *wim.courage@tno.nl Abstract: This paper describes a model which simulates stray current interference of underground steel structures through a traction power system, which causes accelerated corrosion Also the coupling of this model to a inhome developed reliability software package,
Words: 2699 - Pages: 11
repairs is x = 6*square root (sqrt) of r, where r is the generated random number. First, a random number was generated. The next step to determine the time between repairs was to use the probability function of x=6*sqrt of r. The results of this calculation were placed in the second column of the excel worksheet. A third column was created to determine the cumulative time between the breakdowns. The same process continued: finding a random number, using excel function RAND(), using the formula, x=6*sqrt
Words: 416 - Pages: 2
Probability Random variables Distributions Characterizing a random variable (ex-ante) • Expected returns • variances, covariances • Correlation Statistics (ex-post) 2 Random Events Many events occurs with uncertainty • Working condition of hard drive in your laptop ─ Working properly versus hard drive crash • Driving home ─ Safely get to home versus accident • Stock price ─ Going up versus going down We know the possible outcomes of a random event, but we do
Words: 2171 - Pages: 9
