population
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is a collection of all possible individuals, objects, or measurements of
interest.
Empirical Rule
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The rules gives the approximate % of observations w/in 1 standard
deviation (68%), 2 standard deviations (95%) and 3 standard deviations
(99.7%) of the mean when the histogram is well approx. by a normal curve
add or subtract the std. dev from the mean to get your data points left and
right
Subjective Method
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Assigning probabilities based on judgment or whatever information
available
permutation
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An arrangement, or listing, of objects in which order is important.
N = # of objects
n = # of spaces
Fitting "N" objects into "n" spots if the order is important
Discrete variables
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can only assume certain values and there are usually "gaps" between
values. EXAMPLE: the number of bedrooms in a house or the number of
, hammers sold at the local Home Depot (1,2,3,...,etc.)
Coefficient of Variation
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The coefficient of variation indicates how large the standard deviation is in
relation to the mean
it shows the std. dev percentage of the mean
complement of an event
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All possible outcomes that are not in the event
example: A sales manager reports that 80% of new customer contacts
result in no sale.
P(A)=1- P(Ac)=1-0.80=0.20
A new customer contact has a 0.20 probability of resulting in a sale.
Boxplot
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, displays the 5-number summary as a central box with whiskers that extend
to the non-outlying data values- your max and min
The three commonly used graphic forms are:
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- Dot plots
- Histograms
- Frequency polygons
- Cumulative frequency
observation
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The set of measurements obtained for a particular element
A data set with n elements contains n observations
Permutations and combinations
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Probability is a function, n which takes an experimental outcome A in the
sample space S as an input and gives a number P(A) between 0 and 1 as an
output.
Give this one a try later!
is a collection of all possible individuals, objects, or measurements of
interest.
Empirical Rule
,Give this one a try later!
The rules gives the approximate % of observations w/in 1 standard
deviation (68%), 2 standard deviations (95%) and 3 standard deviations
(99.7%) of the mean when the histogram is well approx. by a normal curve
add or subtract the std. dev from the mean to get your data points left and
right
Subjective Method
Give this one a try later!
Assigning probabilities based on judgment or whatever information
available
permutation
Give this one a try later!
An arrangement, or listing, of objects in which order is important.
N = # of objects
n = # of spaces
Fitting "N" objects into "n" spots if the order is important
Discrete variables
Give this one a try later!
can only assume certain values and there are usually "gaps" between
values. EXAMPLE: the number of bedrooms in a house or the number of
, hammers sold at the local Home Depot (1,2,3,...,etc.)
Coefficient of Variation
Give this one a try later!
The coefficient of variation indicates how large the standard deviation is in
relation to the mean
it shows the std. dev percentage of the mean
complement of an event
Give this one a try later!
All possible outcomes that are not in the event
example: A sales manager reports that 80% of new customer contacts
result in no sale.
P(A)=1- P(Ac)=1-0.80=0.20
A new customer contact has a 0.20 probability of resulting in a sale.
Boxplot
Give this one a try later!
, displays the 5-number summary as a central box with whiskers that extend
to the non-outlying data values- your max and min
The three commonly used graphic forms are:
Give this one a try later!
- Dot plots
- Histograms
- Frequency polygons
- Cumulative frequency
observation
Give this one a try later!
The set of measurements obtained for a particular element
A data set with n elements contains n observations
Permutations and combinations
Give this one a try later!
Probability is a function, n which takes an experimental outcome A in the
sample space S as an input and gives a number P(A) between 0 and 1 as an
output.
