Section 6.5 Notes
Method of Least Squares
Example:
Number of Units
X (hundreds)
2
5
6
9
Cost
Y (thousands of dollars)
4
6
7
8
A manufacturer wants to approximate the cost function for a
product. The value of the cost function at certain levels of producti
Math 137 Class 3
Class 3 continued the discussion of the Center as per the Geometric Mean. A good
application to finance (compound rate of return) was shown. We then statrted to study the
Spread of a distribution. The Range, Variance, Standard Deviation,
Math 137 Class 9
In Class 9 we discussed the Sample Space definition of Probability and the associated
rules for find the probability of various events. For an equiprobable experiment the probability
of an event is the number of favorable outcomes divided
Math 137 Class 7
Class 7 continues the discussion of Normal distributions with two applications The Midas
Formula from finance and Quality Control. The Midas formula calculates the value of a Call
Option, a financial contract that is used to manage risk i
Math 137 Class 8
Class 8 continues the discussion of Ways of Counting. Pascals Triangle is used to find the
total number of committees that can be formed from n people. Lists of objects, not all distinct is
discussed. Circular arrangements of objects is g
Math 137 Class 2
Class 2 involved the Center of a distribution. The Mode, Midrange, Median, and Mean
were covered. A film of wage disparity between men and woman was shown from Against All
Odds: Inside Statistics (video 4).
Please read your notes In searc
Math 137 Class 6
Class 6 discusses Normal distributions; that is collections whose graphs are bell-shaped;
that is mound-shaped symmetric, unimodal, anjd that satisfy The 68-95-99.7 % Rule - a more
restrictive form of Chebyshevs Theorem. The Mean and Stan
Math 137 Class 4
Class 4 began with a film from Against All Odds: Inside Statistics on Box Plots. Hot Dog
content was investigated. More measures of variation weres discussed in a pricise numerical
manner. The Skew, Kurtosis, Coefficient of Variation, and
Math 137 Class 10
In Class 10 we continue the discussion of Probability with the examples of Mega Millions
Lottery from the Khan Academy on You Tube, Craps the dice game, The Birthday Paradox, The
Unusual Jury and Buffons Needle Problem for approximating
Math 137 Class 5
Class 5 discusses Relative Standing of data within and between distributions. Precentile
and Z-Score are used to gain more understanding and insight about the variation of data in a
distribution and comparison between different distributi