BMGT 230 Lecture Notes - Lecture 8: Mutual Exclusivity, Scatter Plot, Management Consulting

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 230
• Professor: Radu Lazar

Document Summary

Independence assume that points come from a random sample. Constant spread look at the residual plot. No equal spread vs. no linearity (nonlinear) Probability an event is a set of outcomes. P(a) = number of outcomes in a/total number of outcomes. Mutually exclusive events - two events are mutually exclusive if the occurrence of one prevents the occurrence of the other; not related to each other. Or rule p(a or b) = p(a) + p(b) if and only if a and b are mutually exclusive. General or rule p(a or b) = p(a) +p(b) p(a or b) the idea is that you (cid:272)a(cid:374)"t (cid:272)ou(cid:374)t the (cid:373)iddle/o(cid:448)erlappi(cid:374)g regio(cid:374) t(cid:449)i(cid:272)e so you ha(cid:448)e to su(cid:271)tra(cid:272)t it. Independent events - 2 events are independent if the occurrence of one does(cid:374)"t i(cid:374)flue(cid:374)(cid:272)e the o(cid:272)(cid:272)urre(cid:374)(cid:272)e of the other. And rule p(a and b) = p(a) * p(b) if and only if a and b are independent.