QMS 3311 Exam 2 Review Sheet - P( X > 10.5), if the...

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QMS 3311 EXAM 2 REVIEW SHEET Chapter 6: 1. Know how to find different areas under any normal probability distribution. For instance, X follows normal with a mean of 10 and standard deviation of 2, find P(X>13), P(8<X<11), etc. 2. Know how to find the cutting point for a given probability. For instance, SAT follows a normal probability distribution with a mean of 900 and a s.d. of 200, find the lowest SAT score, x, such that P(SAT > x)=0.05, that is the top 5% highest SAT score. Or the highest SAT score, x, such that P(SAT<x)=0.10, that is the lowest 10% SAT score, etc. Chapter 7: 1. Know what the CLT (Central Limit Theorem) is. 2. Know that when sampling from a normal population, then the sample mean X will always follow a normal probability distribution with a mean of μ (the same as the population mean), and a s.d. of n σ for any sample size (large or small). 3. Know what the finite population correction factor is. 4. Know how to find different probability areas for X . For instance, find the
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Unformatted text preview: P( X > 10.5), if the population mean = 10, s.d. = 2, and a random sample of size n= 100, etc. Chapter 8: 1. Know how to find the confidence interval for population mean when n is large (i.e. n 30), population s.d. is known (hint: use z-value) 2. Know how to find the confidence interval for population mean when n is large (i.e. n 30), population s.d. is unknown (hint: use t-value) 3. Know how to find the confidence interval for population mean when n is small (i.e. n < 30), population follows a normal distribution , and is known (hint: use z-value.) 4. Know how to find the confidence interval for population mean when n is small (i.e. n < 30), population follows a normal distribution , and is unknown (use t-value) 5. If n is small (i.e. n < 30), population does not follow a normal distribution , what will you do? (hint: increase the n to be greater than 30, then decide if is known or not.)...
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This note was uploaded on 02/22/2011 for the course ACCOUNTING 101 taught by Professor Jamesbrown during the Spring '10 term at Abilene Christian University.

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