{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

10-01-07

# 10-01-07 - Analyzing Bivariate Data Contingency Table one...

This preview shows pages 1–2. Sign up to view the full content.

Analyzing Bivariate Data Contingency Table – one variable on column and two on rows Number of Times Each Pair of Values Occurs Regression Analysis – used to forecast the value of one variable based on another y= Sales x= Price y=βn + b + μt (β = Slope) Scatter Plot – around central value (mean) Chapter Six: Probability Probability – the likelihood of an event taking place Three Approaches o Apriori Classical Probability – based on prior knowledge of the process Probability of occurrence is: x x = number of ways each event occurs t t = total number of outcomes Example: A deck of cards has 26 red cards and 26 black cards. The probability of selecting a black card is: 26 52 o Empirical Classical Probability – based on observed data o Subjective Probability – events and sample spaces (a sample space is the collection of all possible events) A simple event is described by a single characteristic A joint event has two or more characteristics P(A) the complement of P(A) is P(A 1 ) a b c A B C

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}