COMMERCE 2QA3 Study Guide - Final Guide: Exponential Distribution, Sampling Distribution, Confidence Interval

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2QA3
• Professor: Fouzia Baki

Document Summary

Sample mean = average of a data set, Population mean is the average of population data. Sample standard deviation, s = the individual data values, y the mean, When we use population data, we use to represent population standard deviation. Standard deviation = positive square root of variance. If we are using sample data, to calculate z we use sample mean and sample standard deviation. Lower and upper fences for the box plot: q1 - 1. 5iqr, q3 + 1. 5iqr. Number of experimental outcomes providing exactly x successes in n trial. Binomial probability function xp n xnx x p. 1( p xn where: x = the number of successes p = the probability of a success on one trial n = the number of trials. P(x) = the probability of x successes in n trials n! Expected value for binomial probability distribution ( ) Variance for the binomial distribution var (x) = 2 = np(1 - p) xe.