[BUEC 232] - Midterm Exam Guide - Comprehensive Notes for the exam (18 pages long!)

• School: Simon Fraser University
• Department: Business Economics
• Course: BUEC 232
• Professor: Andrew Flostrand

Document Summary

Buec 232 study for the final exam (dec. 9, 2016): Chapter 5 discrete probability distributions: binomial probability distribution: applies to sampling with replacement from a population whose elements can be classified into two mutually exclusive categories (each trial has two mutually exclusive outcomes), use binomial tables. Add the numbers up (e. g. (cid:1842)(cid:4666)(cid:1866)(cid:3409)(cid:885)(cid:4667)=(cid:1842)(cid:4666)(cid:1866)=(cid:882)(cid:4667)+(cid:1842)(cid:4666)(cid:1866)=(cid:883)(cid:4667)+ (cid:1842)(cid:4666)(cid:1866)=(cid:884)(cid:4667)+(cid:1842)(cid:4666)(cid:1866)=(cid:885)(cid:4667)(cid:4667) if necessary: poisson distribution: = the expected (average) number of event occurrences per unit area of opportunity is known, use poisson tables. The trials are not independent as each success depletes a finite pool of successes. Changing increases or decreases the spread: the standardized normal (z) distribution has a has a mean of 0 and standard deviation of, (note: the distribution is the same. Range 6 : normal probability plot (quantile-quantile plot): 1) arrange data into ordered array. 3) plot the pairs of points with observed data values (x) on the vertical axis and the standardized normal quantile values (z) on the horizontal axis.