ECN 221: Exam #1 – Arizona State University –
Data Types, Descriptive Statistics, and
Probability Review
Difference between Covariance and Correlation Coefficient? Covariance is r squared
Correlation Coefficient is just r
Coefficient of Correlation Cannot be larger than 1
How to tell if you are using sample or population equation? Sample : n-1
Population : N
The variance of a sample was reported to be 144. The report indicated that ____= 7200.
What is the sample size? (7200/144) + 1 = 51
Empirical Rule states: for data having a bell-shaped distribution, the percentage of data values
being within two standard deviation of the mean is approximately? 95%
Empirical Rule: 1 standard deviation from mean= 68%
2 " " = 95%
3 " " = 98.7%
Coefficient of Variation indicates how large the standard deviation is relative to the
MEAN
, Two events are mutually exclusive if they have no sample points in common
Posterior Probabilities are computed using Baye's Theorem
Baye's Theorem Equation
Mutually Exclusive events Equation
Non Mutually exclusive events Equation
Variance Equations 1. population
2. sample size
Z-score Equation
Unions of Events Equations 1. mutually exclusive
2.non mutually exclusive
Chebyshev's Theorem Equation
Population Equation
Sample Size Equation
Types of Data 1. Qualitative/Quantitative
Data Types, Descriptive Statistics, and
Probability Review
Difference between Covariance and Correlation Coefficient? Covariance is r squared
Correlation Coefficient is just r
Coefficient of Correlation Cannot be larger than 1
How to tell if you are using sample or population equation? Sample : n-1
Population : N
The variance of a sample was reported to be 144. The report indicated that ____= 7200.
What is the sample size? (7200/144) + 1 = 51
Empirical Rule states: for data having a bell-shaped distribution, the percentage of data values
being within two standard deviation of the mean is approximately? 95%
Empirical Rule: 1 standard deviation from mean= 68%
2 " " = 95%
3 " " = 98.7%
Coefficient of Variation indicates how large the standard deviation is relative to the
MEAN
, Two events are mutually exclusive if they have no sample points in common
Posterior Probabilities are computed using Baye's Theorem
Baye's Theorem Equation
Mutually Exclusive events Equation
Non Mutually exclusive events Equation
Variance Equations 1. population
2. sample size
Z-score Equation
Unions of Events Equations 1. mutually exclusive
2.non mutually exclusive
Chebyshev's Theorem Equation
Population Equation
Sample Size Equation
Types of Data 1. Qualitative/Quantitative
