UGBA 104 REVIEW EXAMS UPDATED QUESTIONS
AND ANSWERS SURE A+
✔✔Custom Discrete RV - Parameters - ✔✔(1) set of values
(2) set of corresponding probabilities
✔✔Custom Discrete RV - Mean - ✔✔weighted average of values
✔✔Bernoulli RV - ✔✔an event with two outcomes
(1) 1 with probability p
(2) 0 with probability 1-p
✔✔Bernoulli RV - Parameter - ✔✔p (probability)
✔✔Bernoulli RV - Mean - ✔✔Mean = 1*p + 0*(1-p)
✔✔Binomial RV - ✔✔an event with two outcomes
(1) 1 with probability p
(2) 0 with probability 1-p
the event is repeated n times in an independent manner and the number of "1"
outcomes is counted
✔✔Binomial RV - Parameters - ✔✔(1) n (trials)
(2) p (probability)
✔✔Binomial RV - Mean - ✔✔n * p
(trials * probability)
✔✔Relationship Between Bernoulli and Binomial Random Variable - ✔✔a Binomial RV
counts the number of outcomes of "1" when a Bernoulli RV is repeated "n" times
, ✔✔Types of Continuous Random Variables - ✔✔(1) Normal Random Variable
(2) Uniform Random Variable
(3) Triangular Random Variable
✔✔Normal RV - ✔✔values are dispersed symmetrically around a central value
✔✔Normal RV - Parameters - ✔✔(1) mean
(2) standard deviation
✔✔Uniform RV - ✔✔values are dispersed like a rectangle between an upper and lower
limit
✔✔Uniform RV - Parameters - ✔✔(1) lower bound
(2) upper bound
✔✔Uniform RV - Mean - ✔✔(lower + upper)/2
✔✔Triangular RV - ✔✔values are dispersed like a triangle between a lower and upper
limit
✔✔Triangular RV - Parameters - ✔✔(1) minimum
(2) maximum
(3) most-likely
✔✔Triangular RV - Mean - ✔✔(lower + likely + upper)/3
✔✔ Optimization - ✔✔maximizing or minimizing an objective function involving at least
one variable
✔✔Linear programming - ✔✔maximizing or minimizing an objective when the objective
function AND all constraints involve linear functions of the variables
✔✔5 Steps in Formulating a Linear Program - ✔✔(1) understand decision problem
(2) define decision variables
(3) express objective as a linear function of decision variables
(4) express constraints as a linear inequality
(5) identify upper or lower bounds of decision variables
✔✔Decision Variables - ✔✔variables that the decision maker can control to achieve
their objective
✔✔Objective - ✔✔the goal of the decision maker
✔✔Constraints - ✔✔variables that restrict the decision maker's decision
AND ANSWERS SURE A+
✔✔Custom Discrete RV - Parameters - ✔✔(1) set of values
(2) set of corresponding probabilities
✔✔Custom Discrete RV - Mean - ✔✔weighted average of values
✔✔Bernoulli RV - ✔✔an event with two outcomes
(1) 1 with probability p
(2) 0 with probability 1-p
✔✔Bernoulli RV - Parameter - ✔✔p (probability)
✔✔Bernoulli RV - Mean - ✔✔Mean = 1*p + 0*(1-p)
✔✔Binomial RV - ✔✔an event with two outcomes
(1) 1 with probability p
(2) 0 with probability 1-p
the event is repeated n times in an independent manner and the number of "1"
outcomes is counted
✔✔Binomial RV - Parameters - ✔✔(1) n (trials)
(2) p (probability)
✔✔Binomial RV - Mean - ✔✔n * p
(trials * probability)
✔✔Relationship Between Bernoulli and Binomial Random Variable - ✔✔a Binomial RV
counts the number of outcomes of "1" when a Bernoulli RV is repeated "n" times
, ✔✔Types of Continuous Random Variables - ✔✔(1) Normal Random Variable
(2) Uniform Random Variable
(3) Triangular Random Variable
✔✔Normal RV - ✔✔values are dispersed symmetrically around a central value
✔✔Normal RV - Parameters - ✔✔(1) mean
(2) standard deviation
✔✔Uniform RV - ✔✔values are dispersed like a rectangle between an upper and lower
limit
✔✔Uniform RV - Parameters - ✔✔(1) lower bound
(2) upper bound
✔✔Uniform RV - Mean - ✔✔(lower + upper)/2
✔✔Triangular RV - ✔✔values are dispersed like a triangle between a lower and upper
limit
✔✔Triangular RV - Parameters - ✔✔(1) minimum
(2) maximum
(3) most-likely
✔✔Triangular RV - Mean - ✔✔(lower + likely + upper)/3
✔✔ Optimization - ✔✔maximizing or minimizing an objective function involving at least
one variable
✔✔Linear programming - ✔✔maximizing or minimizing an objective when the objective
function AND all constraints involve linear functions of the variables
✔✔5 Steps in Formulating a Linear Program - ✔✔(1) understand decision problem
(2) define decision variables
(3) express objective as a linear function of decision variables
(4) express constraints as a linear inequality
(5) identify upper or lower bounds of decision variables
✔✔Decision Variables - ✔✔variables that the decision maker can control to achieve
their objective
✔✔Objective - ✔✔the goal of the decision maker
✔✔Constraints - ✔✔variables that restrict the decision maker's decision
