activity_9 - Georgia Southern University College of...

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Georgia Southern University College of Business BUSA 3131, Business Statistics, Fall 2011 Activity 9 Name: ____________ 1. A standard Normal distribution can be used to describe many distributions of data sets. To define the standard deviation, it is necessary to have the mean and the standard deviation. Unfortunately, it is not always possible to know the population standard deviation. So statisticians have developed standardized tables that can approximate a standard Normal distribution. One such table is the T-Table which provides probabilities of a standard Normal distribution give different numbers of observations. It uses the Central Limits Theorem and the Law of Large Numbers, both of which prove that the larger the data set, the more likely it is that the values will be distributed in standard Normal distribution. 2. Suppose you have been asked to conduct a marketing survey for travel agencies that want to know which airports around the world rank highest in customer opinion. It is unlikely that you would have access to a database large enough to provide authoritative information. So, you might construct a survey to distribute among a random set of airline travelers. If travel agencies are interested in the knowing the results, they might be willing to distribute your survey to an email list of their frequent travelers. This could result in a large number of survey responses. If the survey questions could be designed to minimize bias, it may be possible to use the survey results to make reasonable inferences about the population opinion. Even though you would not have either the mean or the standard deviation of the population of air travelers, you could use a t- distribution to approximate a standard Normal distribution if you could get a substantial number of survey responses. A t -distribution is a mathematical model that simulates the probabilities of values in a standard Normal distribution given different numbers of observed values of the variable. The greater the number, the more likely the distribution
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This note was uploaded on 01/30/2012 for the course BUSA 3131 taught by Professor Watson during the Fall '11 term at Georgia Southern University .

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activity_9 - Georgia Southern University College of...

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