BST A750 Review Exercise I for test #3
1. Corporate Triple A Bond interest for 12 consecutive months are
9.5, 9.3, 9.4, 9.6, 9.8, 9.7, 98,105, 9.9, 9.7, 9.6, 9.6
(a) Develop a 3 month moving averages fro this time series
(b) Develop a 4 month moving avera
BSTA 750 Test 1 Review 1
1. A television network is attempting to decide during the summer which of the following hockey
games to televise on the Saturday following Thanksgiving Day: Toronto vs. Buffalo, Montreal
vs. Edmonton, Calgary vs. Ottawa. The esti
BSTA 750 Test #2 REVIEW I
1. The Clear-Tube Company produces 2 product; AM-FM radio and CD player. It has built a
plant that can operate 1480 hours a week. Production of an AM/FM radio requires 2 hours of
labour and production of CD player requires 3 hour
-Demonstrate knowledge of key probability concepts
-Understand events and how to assign probabilities to them
-Calculate probabilities involving complementary events, union of two events, intersection of two events,
2. Descriptive Statistics
Produce and interpret frequency distributions, histograms, ogives, stem and leaf diagrams, and box plots.
Calculate the mean, median, mode, range, standard deviation and variance.
Recognize skewed and symmetric
The binomial distribution is a discrete probability distribution that results from performing a
binomial experiment with the following properties:
Fixed number of trials, represented as n.
Each trial has two possible outcomes, a success and a
Probability Distributions -The Binomial Probability Distribution
Define random variable
Distinguish between discrete and continuous variables
State the properties of a binomial distribution
Use the binomial formula/tables to compute probabilit
Question 1: (3 marks)
Question 2: (3 marks)
Question 3: (3 marks)
Question 4: (5 marks)
In a study of distances travelled by buses before the first major engine failure, a
sampling of 60 buses resulted in
Assignment 1: Decision Analysis (Chapter 5)
Total marks: 20 marks Weight: 8%
Due Date: June 9, 2016
Computer Tool: TreePlan Excel Add-In.
Submit in class, hard copy only.
Assignment can be done in groups of up to 3 studen
Association and Casualty Notes
How do you know that what you found in your research study is, in
fact, a general trend?
Does A really, always cause B?
If A happens, is B really as likely to happen as you claim? Always?
Under certain condi
Central Tendency Notes
Distributions, Percentiles, and Central Tendency
A percentile rank of a score is a single number that gives the percent of
cases in the specific reference group scoring at or below that score.
The mode is the score with th
Experiments and Quasi experiments Notes
An Experiment is
A controlled empirical test of a hypothesis.
A is bigger, faster, better than B
A causes B
A changes more than B when we do X
Independent variable that can be m
Linear Programming Notes
Mathematical programming is used to find the best or optimal solution
to a problem that requires a decision or set of decisions about how
best to use a set of limited resources to achieve a state goal of
Operations Research Notes
What is Operations Research?
The activities carried out in an organization.
The process of observation and testing characterized
by the scientific method. Situation, problem statement, model construction,
QUANTITATIVE RESEARCH METHODS Notes
Include a wide variety of laboratory and non-laboratory procedures
Populations and Sampling
Populations and Sampling
Solving the Mathematical Model Notes
Many tools are available as discussed in this course
Some lead to optimal solutions
Others only evaluate candidates trial and error to find best course
Example: Collect input data - nurse profiles and demand
Problem Solving Process Notes
Problem Solving Process
Goal: solve a problem
Model must be valid
Model must be tractable
Solution must be useful
May involve current operations or proposed developments due to
expected market shifts
Developing LP Model Notes
The variety of situations to which linear programming has been
applied ranges from agriculture to zinc smelting.
Determine the objective of the problem and describe it by a
criterion function in terms of the decis
Questionnaires and Surveys Notes
Questionnaires & surveys
Sample large populations (cheap on materials & effort)
Efficiently ask a lot of questions
LP Problems Notes
4. A Transportation Problem
A product is to be shipped in the amounts al, a2, ., am from m
shipping origins and received in amounts bl, b2, ., bn at each of n
The cost of shipping a unit from the ith origin to the
Constructing Model Notes
Constructing a Model
Problem must be translated from verbal, qualitative terms to logical,
A logical model is a series of rules, usually embodied in a computer
A mathematical model is a collection of fun
Range Central Tendency Notes
Range and measures of central tendency (mean, median and mode) are
values that summarize a set of data. They are useful when analyzing data.
Sometimes there are extreme values that are separated from the rest of the
Basic Statistics Vocabulary Terms Notes
Applications in Business and Economics
Public accounting firms use statistical sampling procedures
when conducting audits for their clients.
Financial analysts use a variety of statistical inf
Law of Large Numbers Notes
Law of Large Numbers
As a procedure is repeated again and again, the relative frequency
probability (from Rule 1) of an event tends to approach the actual
The probability of an impossible event is
Mean, Median, and Mode Notes
Using Excel to Compute the Mean, Median, and Mode
Enter the data into cells A1:B13 for the starting salary example.
To compute the mean, activate an empty cell and enter the following
in the formula bar:
=Average(b2:b13) and c
Exploratory Data Analysis Notes
The techniques of exploratory data analysis consist of simple
arithmetic and easy-to-draw pictures that can be used to summarize
One such technique is the stem-and-leaf display.
A stem-and-leaf display shows b
This section introduces the basic concept of the probability of an
event. Three different methods for finding probability values will be
The most important objective of this section is to learn how to
Type of Data Notes
Qualitative data are labels or names used to identify an attribute of
Qualitative data use either the nominal or ordinal scale of
Qualitative data can be either numeric or nonnumeric.
Sample Notes and Exercises Notes
Populations and Samples
The population is the set of all elements of interest in a particular
A sample is a subset of the population.
Descriptive Statistics and Statistical Inference
Descriptive Statistics is tabula