# ECON 2201 Lecture Notes - Lecture 1: Type I And Type Ii Errors, Gie, Central Limit Theorem

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2201 FINAL EXAM REVIEW SUMMARY AND REMINDERS

TOPIC 1

Sample vs population – notation: Greek vs Roman

TOPIC 2

Formula and symbols especially for population and sample mean, variance, and standard deviation

Meaning of percentiles

Empirical rule

Standardized scores

TOPIC 3

Frequencies and relative frequencies

TOPIC 4

All definitions of terms – not to memorize but to understand

All rules of probability

Bayes theorem and how to solve – joint probability table, tree diagram, formula, or calculation table

TOPIC 5

Random variables and probability distributions – how to derive and the properties and how to calculate

mean and standard deviation in the general case

Counting rule

Binomial distribution – properties, calculation, mean and standard deviation

Poisson distribution – properties, calculation, mean and standard deviation

Hypergeometric distribution – properties, calculation – for 2 outcomes and general case

Be sure you can recognize which of the distributions to use in a problem – clues: what are you given;

what are you asked to find, etc.

TOPIC 6

Properties of the Normal distribution and how to find probabilities using the tables – from z value to

probability and from probability back to z value! DRAW THE PICTURE!

Uniform distribution – properties, calculation, mean and standard deviation

Exponential distribution – properties, calculation, mean and standard deviation – how it relates to the

Poisson and how it differs - how to know which one is which in a question

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