Ch1 notes
Primary sources of Law
o US and state constitutions
o Statutory law
Laws enacted by legislation
Ordinance: same but for municipality
o Regulation created by administrations and agencies (administrative law)
Consists of rules, orders, and deci
Numerical Descriptions of Data
Central Tendency
Variation
Shape
Empirical Rule
Relationship
Excel
1. Central Tendency Center of data
Median
Mode
Mean or Average
1.1 Sample Mean
Average of sample
Symbol X
1.2 Population Mean
Average of population
Sy
Presenting Data in Tables and Charts
TabulatingandGraphingUnivariateandBivariatequalitative
data
Organizingnumericaldata
TabulatingandgraphingUnivariatenumericaldata
GraphingBivariatenumericaldata
UsingExcel
1.TabulatingandGraphingCategoricalData
1.1Univa
Types of Data and Sampling
1. Terms
1.1 A population (universe) is the collection of things under consideration
1.2 A sample is a portion of the population selected for analysis
1.3 A parameter is a summary measure computed to describe a characteristic of
Stats study sheet Exam 1
2 types of errors: sampling and non
sampling
o Sampling errors come from
knowledge and variance
Margin of error: largest acceptable error
Data collection
o Convenience: what you have
already
o Judgment: handpicked sample
o Random
The University of Texas at Arlington
Department of Information Systems and Operations Management
COURSE NAME AND NUMBER: BSTAT 3321 Business Statistics I Spring, 2011
INSTRUCTOR: Dr. Mark Eakin
OFFICE: 525 B
OFFICE HOURS: Tentatively 8:30-9:20 & 2:30-3:30
STAT 3321 - Exam 1- White, Spring 2010 - Printed Name_
In the lab what computer do you usually use? _
By signing below I state that I understand that academic dishonesty can result in punishment resulting in at least a zero on this
test and could include
Confidence Intervals for Means and Proportions
Point estimates
Margins of Error
Estimation for the average of a population ( known)
Estimation for the average of a population ( unknown)
Estimation for the proportion of successes in a population
Determinin
Types of Data and Sampling
1. Terms
1.1 A population (universe) is the collection of things under consideration
1.2 A sample is a portion of the population selected for analysis
1.3 A parameter is a summary measure computed to describe a characteristic of
Assignment typed report format
Create, print and submit a typed technical paper* (two pages not counting graphs,
double space, 10-12 font, 1 margins) with your audience being a manager without
statistical training. The report must have
a. An Introduction
Step 1
Assignments Spring, 2011
Scenario:
The purpose of these assignments is to describe all banks that give loans and leases. A sample of
these banks are found in the Excel Data files of the book under the name Loans and Leases.xls.
Each group will take
Chapter 6: econ profit, production and economies of scale
Profit:
o Firms main goal is to maximize profit
Total rev- total cost
o 2 types of costs:
Explicit cost: paid in money
Implicit cost: expenses an owner does not have to pay out of pocket:
opport
Blaw test 3 review
Pg 208
o Req of a valid contract
Agreement
Consideration
Contractual capacity
Legality (mutual ascent)
o Defense to the contract:
Form
Voluntary consent: both parties must be in agreement (cant be out of
duress, undue influence et