HA201_Prelim_2_Review - H ADM 201 Prelim 2 Review 2 Goals...

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H ADM 201 Prelim 2 Review
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HA 201 Prelim 2 Review 2 Goals for Today No notes Many Questions Understand everything Prepare
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HA 201 Prelim 2 Review 3 Review Topics 1. Distributions Review 2. Purpose of Statistics 3. Descriptive Statistics 4. Sampling Distributions 5. CLT: Central Limit theorem 6. P-value 7. Errors 8. A-G Questions 9. Problems
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HA 201 Prelim 2 Review 4 1- Distributions: Discrete Probability Distribution Usually presented in a table format, shows the probability for each value the random variable can take Probability of an event Define the event in terms of values the random variable can take Equals the sum of the probabilities for each value determined by the event Xi 1 2 3 4 P(Xi) .4 .3 .1 .2 E={Roll a 4-die and get 2 or 4} P(E)=.3+.2=.5
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HA 201 Prelim 2 Review 5 Distributions: Continuous Probability Distribution Usually presented by a graph accompanied by a formula Probability of an event Define the event in terms of an interval Equals the area below the curve f(x) x E={X is between a and b} P(a<X<b)=Black Area a b
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HA 201 Prelim 2 Review 6 Distributions: Focus Tips Identity and Assumptions Normal Natural, C & D μ & σ (σ 2 ) Students t Heavy tails, C & D μ , df, σ (σ 2 ) Uniform C, Equally likely Interval a & b Poisson D, No Max, Ind μ (μ =σ 2 ) Binomial D, 2 Outcomes, π, Max π & n
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HA 201 Prelim 2 Review 7 2- Purpose of Statistics 1-Descriptive Statistics Describing and presenting data Statistics, graphs (Which one is the most appropriate?) 2-Sampling and Experimental design Collecting data Targeting and sampling, type of data 3-Inferential Statistics Analyzing data and drawing conclusions Testing, modeling, forecasting
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HA 201 Prelim 2 Review 8 Never Hurts Target population A group of items or individuals under study Parameter A numerical description of the population Sample Population A subset of the target population used to create a sample Sample Data gathered from the sample population Statistic A number calculated from a sample Subjective Inference Needed or Not. Period. Nothing else!
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