1-28-09 - -Motivation(for learning the material – The...

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Economic Statistics – Class Notes – 1/28/09 Recall – Continuous Probability Distribution Example – The Normal Distribution
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The Normal Distribution is a distribution described by its mean and standard deviation such that (plus or minus one standard deviation from the mean) contains 68% of all values of the random variable X. o The only information I need to know about a normal distribution is its mean and standard deviation. 6. Random Variables and Rules of Expectation
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Unformatted text preview: -Motivation (for learning the material) – The formulas we use to estimate population parameters are based on functions of the underlying random variable – we must know the properties of these functions. DEFINITIONS: PROOFS! BASED ON THE ABOVE RULES… APPLIATIONS! QUIZ FOR FRIDAY For Friday – He’ll give you some data, you need to: CALCULATE THE MEAN (2 ways), CALCULATE THE VARIANCE, and then INTERPRET THE STANDARD DEVIATION...
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This note was uploaded on 06/03/2009 for the course ECON 203 taught by Professor Casler during the Spring '09 term at Allegheny.

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1-28-09 - -Motivation(for learning the material – The...

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