Final Exam Topics:
1. Hypothesis Test w/ designing experiments (outline)
2. Normal Distribution ( Normal CDF and Central Limit Theorem)
3. Descriptive Statistics/Graphs (Boxplot, Histograms, Stem and Leaf) with outliers
4. Portfolio Assessment ( Mean and
Examining Relationships
Scatterplots
PSBE Chapter 2.1
2011 W. H. Freeman and Company
Objectives (PSBE Chapter 2.1)
Scatterplots
Explanatory and response variables
Scatterplots
Interpreting scatterplots
Outliers
Categorical variables in scatterplots
Exami
Probability Theory
General Probability Rules
PSBE Chapter 5.1
2011 W.H. Freeman and Company
Objectives (PSBE Chapter 5.1)
General probability rules
Independence and the multiplication rule
Applying the multiplication rule
The general addition rule
Probab
Probability and Sampling
Distributions
Randomness and Probability
Models
PSBE Chapters 4.1 and 4.2
2011 W.H. Freeman and Company
Objectives (PSBE Chapters 4.1
and
4.2)
Randomness and Probability Models
Randomness and probability
Probability rules
Assigni
Producing Data:
Designing Samples
PSBE Chapter 3.1
2011 W.H. Freeman and
Company
Objectives (PSBE Chapter 3.1)
Sampling designs
Observation versus experiment
Population versus sample
Sampling methods
Simple random samples
Stratified samples
Caution about
Inference for
Proportions
Inference for a Single Proportion
PSBE Chapter 8.1
2011 W.H. Freeman and Company
Objectives (PSBE Chapter 8.1)
Inference for a single proportion
Conditions for inference on p
Large-sample confidence interval for p
Significance t
Multiple Regression
Data Analysis for Multiple
Regression and Inference for
Multiple Regression
PSBE Chapters 11.1 and 11.2
2011 W.H. Freeman and Company
Objectives (PSBE Chapters 11.1
and
11.2)
Data analysis for multiple regression and
inference for mul
Inference for
Regression
Inference about the Regression
Model and Using the Regression
Line PSBE Chapter 10.1 and 10.2
2011 W.H. Freeman and Company
Objectives (PSBE Chapter 10.1
and
10.2)
Inference about the regression model and using
the Regression Lin
Chapter 1 Homework
1. The table below shows 40 of the best-paid CEOs:
(a) Make a Pareto graph of the degrees these CEOs obtained.
(b) Make a pie chart of the degrees these CEOs obtained.
(c) Write a short summary of the major features of your graphs.
2. T
TI-83/84 Linear Correlation and Regression Part 1
You can use the TI-83/84 calculator to construct a scatter plot, determine the correlation coefficient and the
coefficient of determination between two variables, calculate and graph the linear regression
Inference for Two-Way
Tables
Analysis of Two-Way Tables
PSBE Chapter 9.1
2011 W.H. Freeman and Company
Objectives (PSBE Chapter 9.1)
Analysis of two-way tables
Two-way tables
Describing relations in two-way tables
The hypothesis: no association
Expected
Sections 4.1 to 4.4 Homework
1.
Suppose you invest a fixed sum of money in each of five Internet business ventures. Assume you know that
70% of such ventures are successful and the outcomes of the ventures are independent of one another. The
table below g
STAT 2430 BUSINESS STATISTICS
COURSE REVIEW
1. A travel agency randomly selected one day out of the past year to compare the prices of two airlines, Delta and US
Air. The table below gives the prices of a plane ticket from Columbus to ten selected cities
Section 2.5 Homework
1. The Census Bureau provides estimates of numbers of people in the United States classified in various ways.
The table below examines the relationship between age and full-time or part-time status. The numbers in the
table are expres
STAT 2430 BUSINESS STATISTICS
COURSE REVIEW ANSWER KEY
1. A travel agency randomly selected one day out of the past year to compare the prices of two airlines, Delta and US
Air. The table below gives the prices of a plane ticket from Columbus to ten selec
COLUMBUS STATE COMMUNITY COLLEGE
MATHEMATICS DEPARTMENT COURSE SYLLABUS
Course Number: STAT 2430
Course Name: Business Statistics Semester/Year: Spring 2015
Credit Hours: 5 semester credits (4 lecture and 2 lab hours per week)
Prerequisite: A grade of C o
TI-83/84 Linear Correlation and Regression Part 2
You can use the TI-83/84 calculator to conduct a hypothesis tests for a population correlation coefficient (or slope
equal to zero)
Example
A meteorologist wants to determine the relationship between citie
STAT 2430 Final Exam Formulas
Mean and Probability Formulas for an Exponential Distribution
Mean =
1
P(X a) = e a
P(0 X a) = 1 e a
P(a X b) = e a e b
Mean of a Discrete Random Variable
= xi pi
Mean and Standard Deviation for a Binomial Distribution
= np
Sections 2.1 to 2.3 Homework
1. Suppose a fire insurance company wants to relate the amount of fire damage in major residential fires to the
distance between the burning house and the nearest fire station. The study is conducted in a large suburb of a
maj
Data and Decisions- Chapter 1
What are statistics
o Use data to draw conclusions about something unknown
o Make intelligent judgments and informed decisions in the presence of
uncertainty and variation
Example: what is a reasonable value to report for t
Kelsey Wirthman
Cranial Nerve Function Pre-lab
9/15/2016
1. A test to assess the function of the olfactory nerve is as simple as asking the subject to identify a
common substance such as coffee or soap by its odor. Usually one nostril would be closed so
t
Stat 1350
Experiments, Good and Bad
What is an experiment anyway?
When patients undergo surgery, the operating room is kept cool so that the physicians in heavy gowns
will not be overheated. The price for the surgeons comfort could be paid by the patient.
Stat 1350
Experiments in the Real World
Suppose you are interested in determining if drinking a glass of red wine each day helps prevent
heartburn. You recruit 40 adults age 50 and older to participate in an experiment. You want half of them
to drink a gl
Stat 1350
Some Definitions:
margin of error
sampling errors
census
Sample Surveys in the Real World
random sampling errors
nonsampling errors
_ are errors caused by the act of taking a sample.
_ are errors not related to the act of selecting a sample from
Stat 1350
What Do Samples Tell Us?
statistic
parameter
A _ is a number that describes some characteristic of a population.
Although a parameter is a fixed number, we do not usually know the actual value of this number. A
_ is a number that describes some
Stat 1350
Do the Numbers Make Sense?
Example 1
In 1994, according to the Department of Labor, the median salary for government workers was $29,528,
while the median salary for private workers was $26,494. Conservative groups have claimed that this
shows t
Stat 1350
Measuring
The number 3.8 tells us nothing beyond the numerical significance of three point eight; 3.8% fat in
milk or 3.8 kg as a birth weight of a baby conveys additional information. Anyone who doubts this
assertion should try the consequences
Stat 1350
Samples How to avoid bad ones and get good ones!
When Shaquille ONeal first played for the Orlando Magic, the Orlando Sentinel published the results of
a call-in poll: more than 90% of respondents thought the team should refuse to offer Shaq the
STAT 1350
Where Do Data Come From?
What is data?
_ collected from _.
PRODUCING DATA
Example 1: A researcher finds 1000 adults over the age of 40 who do not regularly eat oatmeal
products and are willing to participate in a study. She randomly assigns 500