Chapter Goals
After completing this chapter, you should be
able to:
Construct a payoff table and an opportunity-loss table
Define and apply the expected value criterion for decision
making
Compute the
Chapter Goals
After completing this chapter, you should be
able to:
Find probabilities using a normal distribution table
Apply the normal distribution to business problems
.
Convert values from any no
Chapter Goals
After completing this chapter, you should be able to:
Apply the binomial distribution to applied problems
Compute probabilities for the Poisson and hypergeometric
distributions
.
Calcula
Chapter Goals
After completing this chapter, you should be
able to:
Explain three approaches to assessing
probabilities
Apply common rules of probability, including the
Addition Rule and the Multipl
Chapter Goals
After completing this chapter, you should be able to:
Compute the range, variance, and standard deviation and
know what these values mean
Construct and interpret a box and whisker graph
Chapter Goals
After completing this chapter, you should be
able to:
Construct and interpret a histogram
Create and interpret bar charts, pie charts, and
stem-and-leaf diagrams
.
Construct a frequency
Chapter Goals
After completing this chapter, you should be
able to:
Describe key data collection methods
Know key definitions:
Population vs. Sample
Qualitative vs. Qualitative data
Primary vs. Second
Learning Objectives
Learn about decision making under certainty, under
uncertainty, and under risk.
Learn several strategies for decision-making under
uncertainty, including expected payoff, expecte
Learning Objectives
Understand the concepts of quality, quality
control, and total quality management.
Understand the importance of statistical quality
control in total quality management.
Learn ab
Learning Objectives
Recognize the advantages and disadvantages of
nonparametric statistics.
Understand how to use the runs test to test for
randomness.
Know when and how to use the Mann-Whitney U
t
Chapter Goals
After completing this chapter, you should be
able to:
Define the concept of sampling error
Determine the mean and standard deviation for the
_
sampling distribution of the sample mean, x
Chapter Goals
After completing this chapter, you should be able
to:
Construct and interpret a confidence interval estimate for a
single population mean using both the z and t distributions
Determine t
Chapter Goals
After completing this chapter, you should be
able to:
Formulate a decision rule for testing a hypothesis
Know how to use the test statistic, critical value, and
p-value approaches to tes
Chapter Goals
After completing this chapter, you should be
able to:
Use the seven basic tools of quality
Construct and interpret x-charts and R-charts
Construct and interpret p-charts
Construct an
Chapter Goals
After completing this chapter, you should be
able to:
Recognize when and how to use the Wilcoxon
signed rank test for a population median
Recognize the situations for which the Wilcoxo
Chapter Goals
After completing this chapter, you should be
able to:
Identify the components present in a time series
Compute and interpret basic index numbers
Apply trend-based forecasting models, inc
Chapter Goals
After completing this chapter, you should be
able to:
apply multiple regression analysis to business
decision-making situations
analyze and interpret the computer output for a
multiple r
Chapter Goals
After completing this chapter, you should be
able to:
Determine whether the correlation is significant
Calculate and interpret the simple linear regression
equation for a set of data
Und
Chapter Goals
After completing this chapter, you should be
able to:
.
Use the chi-square goodness-of-fit test to
determine whether data fits a specified distribution
Set up a contingency analysis tabl
Chapter Goals
After completing this chapter, you should be able
to:
Understand different analysis of variance designs
Perform a single-factor hypothesis test and interpret results
Conduct and interpre
Chapter Goals
After completing this chapter, you should be
able to:
Find critical chi-square distribution values from the chisquare table
Formulate and complete hypothesis tests for the
difference bet
Chapter Goals
After completing this chapter, you should be
able to:
Test hypotheses or form interval estimates for
two independent population means
.
Standard deviations known
Standard deviations unkn
Learning Objectives
Gain a general understanding of time series forecasting
techniques.
Understand the four possible components of time-series data.
Understand stationary forecasting techniques.
U
Learning Objectives
Analyze and interpret nonlinear variables in multiple
regression analysis.
Understand the role of qualitative variables and how to use
them in multiple regression analysis.
Lear
Learning Objectives
Develop a multiple regression model.
Understand and apply significance tests of the regression
model and its coefficients.
Compute and interpret residuals, the standard error of
Learning Objectives
Define statistics
Become aware of a wide range of
applications of statistics in business
Differentiate between descriptive and
inferential statistics
Classify numbers by level
Research Methods: Fall 2016
Module 15 Assignment
Due Friday, 9/30 to Moodle
Use the Excel file 240 Stats 1 Workbook to complete this assignment; save as another document. Type
your written answers int
Section 1.3
Experiments and
Observational Studies
Statistics: Unlocking the Power of Data
Lock5
Outline
Association versus Causation
Confounding Variables
Observational Studies vs Experiments
Randomiz
Section 1.2
Sampling from a
Population
Statistics: Unlocking the Power of Data
Lock5
Outline
Sample versus Population
Statistical Inference
Sampling Bias
Simple Random Sample
Other Sources of Bias
Section 1.1
The Structure of Data
Statistics: Unlocking the Power of Data
Lock5
Outline
Data
Cases and variables
Categorical and quantitative variables
Explanatory and response variables
Using data to