Quantitative Research Techniques +
Statistics - Peregrine
A company developed a smartphone whose average lifetime is unknown. In order to estimate
the average, 200 smartphones are randomly selected from a large production line and tested;
their average is found to be 5 years. The 200 smartphones represent: - ANS-a sample
\Addition Rule of Probability - ANS-P(A or B) = P(A) + P(B) - P(AB)
\Bayes Law - ANS-calculates posterior probability
\Business Statistics - ANS-the collection, summarization, analysis, and reporting of numerical
findings relevant to a business decision or situation
\calculate conditional Probability - ANS-P (A1/B2)
\Central Limit Theorem (CLT) - ANS-The name of the theorem stating that the sampling
distribution of a statistic (e.g. x ) is approximately normal whenever the sample is large and
random. Allows us to draw conclusions about the population based on strictly sample data.
\Classical Approach to Probability - ANS-associated with games of chance. If an experiment has
N possible outcomes, this method would assign probability of 1/n to each customer. For
example, the probability of a heads and tails in the flip of a coin are equal to each other.
Because the sum must be 1, the probability is 1/2, or 1/6 for a dice.
\cluster sampling - ANS-random sample of the groups or clusters of elements versus a simple
random sample of individual objects
\Complement of an event - ANS-
\Complement Probability - ANS-event that occurs when A does not occur. P(A) + P(Ac) = 1
\Conditional Probability - ANS-the likelihood that a target behavior will occur in a given
circumstance
\confidence level - ANS-Proportion of times that an estimating procedure will be correct
\Confidence level + significance level - ANS-= 1
\descriptive statistics - ANS-uses graphical or numerical techniques to summarize and present
data
\Design of a good survey components - ANS-short survey, short/simple questions, start with
demographic questions, ues dichtomous (yes-no) and multiple choice
\Direct observation - ANS-example: counts backpacks on campus for a day
\doing inferential statistics. - ANS-The process of using sample statistics to draw conclusions
about population parameters is called
\exhaustive - ANS-including everything possible; very thorough or complete
\Find the sample standard deviation of 5, 10, 15 and 20. - ANS-6.45
\In a sample proportion, represented by p = x/n, what does X refer to? - ANS-# of successes in
the sample
\inferential statistics - ANS-Process of using sample statistics (mathematics) to draw
conclusions about population parameters
\Joint Probability - ANS-the probability of the intersection of two events
Statistics - Peregrine
A company developed a smartphone whose average lifetime is unknown. In order to estimate
the average, 200 smartphones are randomly selected from a large production line and tested;
their average is found to be 5 years. The 200 smartphones represent: - ANS-a sample
\Addition Rule of Probability - ANS-P(A or B) = P(A) + P(B) - P(AB)
\Bayes Law - ANS-calculates posterior probability
\Business Statistics - ANS-the collection, summarization, analysis, and reporting of numerical
findings relevant to a business decision or situation
\calculate conditional Probability - ANS-P (A1/B2)
\Central Limit Theorem (CLT) - ANS-The name of the theorem stating that the sampling
distribution of a statistic (e.g. x ) is approximately normal whenever the sample is large and
random. Allows us to draw conclusions about the population based on strictly sample data.
\Classical Approach to Probability - ANS-associated with games of chance. If an experiment has
N possible outcomes, this method would assign probability of 1/n to each customer. For
example, the probability of a heads and tails in the flip of a coin are equal to each other.
Because the sum must be 1, the probability is 1/2, or 1/6 for a dice.
\cluster sampling - ANS-random sample of the groups or clusters of elements versus a simple
random sample of individual objects
\Complement of an event - ANS-
\Complement Probability - ANS-event that occurs when A does not occur. P(A) + P(Ac) = 1
\Conditional Probability - ANS-the likelihood that a target behavior will occur in a given
circumstance
\confidence level - ANS-Proportion of times that an estimating procedure will be correct
\Confidence level + significance level - ANS-= 1
\descriptive statistics - ANS-uses graphical or numerical techniques to summarize and present
data
\Design of a good survey components - ANS-short survey, short/simple questions, start with
demographic questions, ues dichtomous (yes-no) and multiple choice
\Direct observation - ANS-example: counts backpacks on campus for a day
\doing inferential statistics. - ANS-The process of using sample statistics to draw conclusions
about population parameters is called
\exhaustive - ANS-including everything possible; very thorough or complete
\Find the sample standard deviation of 5, 10, 15 and 20. - ANS-6.45
\In a sample proportion, represented by p = x/n, what does X refer to? - ANS-# of successes in
the sample
\inferential statistics - ANS-Process of using sample statistics (mathematics) to draw
conclusions about population parameters
\Joint Probability - ANS-the probability of the intersection of two events
