CaseStudy#2NewEnglandVacation
Introduction:AsavacationerinthecoastalNewEnglandarea,wearelookingforasystematicmethodto
predicttheweeklyrentalrateofrentalhomesintheareaandspecificallytelliftheratesaregenerally
higher in the Cape Cod region, compared to the
Famous Discrete Random
Variables
Famous Discrete Random Variables
Some types of experiments have common
structures that have been analyzed and the
results have been used for many years.
Names have been given to random
variables that represent these struct
Sampling Distributions
Probability vs. Statistics
The field of statistics deals with the analysis of
sample data. Sample data simply refers to the
results that you get when you do an experiment
many times. The random variable (and its
probability distribu
Random Variable Concepts
Definition: Random Variable
A random variable is a letter used to
represent the quantitative result of an
experiment for which the outcome is not
known with certainty until the
experiment is performed.
Thinking Challenge
Youre tak
Continuous Random Variables
and The Normal Distribution
1
Random Variable
1. A Numerical Outcome of an Experiment
Weight of a Student
Observe 115, 156.8, 190.1, 225
2. Continuous Random Variable
Whole or Fractional Number
Obtained by Measuring
Infinite Nu
Fundamentals of Probability
1
Thinking Challenge 1
Whats the probability
of getting a head on
the toss of a single fair
coin? Use a scale
from 0 (no way) to 1
(sure thing).
So toss a coin twice.
Do it! Did you get one
head & one tail?
Whats it all mean?
2
Medicare Nursing Home Penalties
Introduction:
Nursing homes who receive Medicare reimbursements are routinely inspected. Deficiencies can be related to patient
care, staffing, facilities, and food safety. In some cases monetary penalties can be imposed fo
Medicare Nursing Home Penalties
Introduction:
Nursing homes who receive Medicare reimbursements are routinely inspected for deficiencies. These deficiencies can be
related to patient care, staffing, facilities, and food safety. In some cases, monetary pen
Assignment 1 ADK Rentals
When examining the data provided pertaining to the Adirondack
Summer Rental properties some typical and atypical observations were
made.
The average price per week of the properties is $2065.20 yet the majority of
properties will
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10
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9
0
35
25
3
Create ammo: for the above data
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MBA 506 Simple Regression, CAPM
DIS -The Walt Disney Company:
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international
family entertainment and media enterprise with five business segments: media netwo
MBA 506 New England Coastal Vacation (Assignment No. 1)
Introduction: A family would like to vacation on the ocean this summer. Living in Boston, Cape Cod and Southern Maine are
popular summer vacation destinations within close proximity. Being cost consc
MBA 506 Simple Regression, CAPM
DIS -The Walt Disney Company:
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified
international family entertainment and media enterprise with five business segments: media
netwo