1Topic #2-Basic Statistics-Part 2-sport

# 1Topic #2-Basic Statistics-Part 2-sport - Topic#2 s s...

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1              Slide Topic #2    Basic Statistics – Part 2 Measures of Relative Location  Z-scores  Continuous Probability Distributions

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2              Slide
3              Slide REVIEW: Binomial Probability Distribution What’s the probability of seeing x successes in the next n  experiments ? Probability that 2 of next 3 customers will buy? Probability that 5 of next 10 job applicants will be  hired? How do you identify a  binomial case? n  identical trials Two outcomes, success  and failure , on each trial

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4              Slide REVIEW: Binomial Probability Distribution Binomial Probability Function where: f ( x ) = the probability of  x  successes in  n  trials     n  = the number of trials     p  = the probability of success on any one trial Example :  Probability that 2 of next 3 customers will buy  when prob. of buying = 25%? value of n?
5              Slide REVIEW: Poisson Probability Distribution What will be the number of occurrences over a specific  time or distance interval ? How many customers will walk up to one ATM in 2  minutes? How many repairs will be needed in 10 miles of  highway? How can you identify a Poisson case ? The probability of an occurrence for some interval of  time or distance

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6              Slide Poisson Probability Distribution Poisson Probability Function where: f(x)  = probability of  x  occurrences in an interval    μ   = mean number of occurrences in an interval      e  = 2.71828  Example :  What is the probability of 4 arrivals to an  emergency room in 30 minutes given that the average rate  is 3 per half-hour?
7              Slide Form Your Team

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8              Slide Measures of Relative Location z-Scores The Empirical Rule NOTE: gives you an idea/sense of how values and  probabilities are spread over the normal distribution NOT  a substitute for the normal distribution table
9              Slide z-Scores The z-score  is often called the standardized value. It denotes the number of standard deviations a data value  xi  is from the mean. A data value less than the sample mean  will have a  z-score less than zero . A data value greater than the sample mean  will have a z- score greater than zero . A data value equal to the sample mean  will have a   z-score  of zero.

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10              Slide z-Scores EXAMPLES Suppose     = .250 and s = .035  (batting averages) How many standard deviations above the mean is .285?  How many standard deviations below the mean is .215?
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## This note was uploaded on 09/09/2011 for the course ECON 6416 taught by Professor Richardhofler during the Fall '11 term at University of Central Florida.

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1Topic #2-Basic Statistics-Part 2-sport - Topic#2 s s...

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