s110 study guide 2

# Expected value make sure you can calculate this be

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Expected Value: Make sure you can calculate this. Be able to use the formula to work backwards (e.g., if I tell you what the expected value is and what the values are, be able to calculate the probability). Median: Make sure you can calculate this and what it means that the median is the 50 th percentile. More importantly, be able to tell when the mean will be larger than, smaller than, or equal to the median. As such, know what happens when you add or change one value in a dataset (see practice problems 1 and 2). Mode: Make sure you can calculate this. Proportion: Make sure you can calculate this. Be able to use the formula to work backwards (e.g., if I tell you what the proportion is, be able to calculate the count given a total). Be able to convert proportions to percentages and vice-versa. Skewness: Be able to identify left- and right-skewed distributions and know the effect skewness has on mean, median, and mode. Attached is the formula sheet that will be provided with the exam. Formulas Central Tendency Arithmetic mean ࠵? = ࠵? ! ࠵? ! ! ! ! Expected value for discrete data ࠵? ࠵? = ࠵? ! ࠵? ! ! ! ! ! Expected value for continuous data ࠵? ࠵? = ࠵?࠵? ࠵? ࠵?࠵? Proportion ࠵? = ࠵?࠵?࠵?࠵?࠵? ࠵?࠵?࠵?࠵?࠵? Probability ࠵? ࠵? = # ࠵?࠵?࠵?࠵?࠵?࠵?࠵?࠵?࠵? # ࠵?࠵?࠵?࠵?࠵?࠵? Notation Population mean ࠵? Sample mean ࠵? Population proportion ࠵? Sample proportion ࠵?
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