Introduction to Modeling:
We can use mathematical models to show the relationships of multiple variables in a situation. All models w
inputs (given values) and outputs (mathematical formulae or functions), some will also have decision variab
more inputs a
More tips can be found here:
Learn about Keyboard Shortcuts
Make a chart template
Learn about Navigating data and worksheets
Technology in Business
about your customers,
your competitors, your
environment, and your
K303 Team Contract
1) Always foster a productive work environment where team members can be
constructive with their time.
3) Work will be divided equally among all team members.
4) Give adequate notice if to team if you will be late, or have to mis
You are hereby warned:
Canvas is the ONLY accepted environment for project submissions.
Not e-mail (no matter how close to the deadline you send the e-mail).
Nor any other environment.
If you fail to upload the proper files to Canvas,
MODULE 3: DATA PRESENTATION CLASS EXERCISE
FILES NEEDED: MOD3_DATAPRESENTATION_1.XLSM
In the Mod3_DataPresentation_1.xlsm file, youve been given some data for an MBA class at a top-ranked midwestern university. This data shows the current graduatin
Computing Probabilities Using Equally Likely
Ex. You roll 2 dice and note the sum. Find the
probability the sum is at most 6.
Ex. A fair coin is flipped 5 times. What is the
probability both heads and tails occur?
Ex. 3 digits
Probability Measures: Axioms and Properties
Synonyms: likelihood, chance
Most knowledge is by comparison. Probability is about
Sometimes results are surprising.
The Birthday Problem: How many people are needed if
Stochastic Processes & Trees
Stochastic process - multistage experiment
Trees visual way to organize the information and
order the stages; often there is a chronological
Cases branches on the tree correspond to cases.
Probabilities, Events, Equally Likely Outcomes
Chance two meanings: randomness and predictable
Chapter 2 is mostly about the counting the number of
ways a particular event happens. (Combinatorics)
In Chapter 3 we will investigate part
Conditional Probabilities, Independent Events
Very Important Concepts definite exam questions
Sometimes we need to consider the probabilities of two
The relationship between two events can provide
information about the probabilities of
You flip an unfair coin, with the probability of tails
being 0.7, three times.
What is the probability of exactly 2 tails?
Now flip the same coin 4 times. What is Pr(T = 2)?
How about for 5 trials? Pr(T = 2)?
How about 6 trials? Pr(T
RV, PDF, E(x)
RV, PDF, E(x) only. Skip variance and standard
This material is a bridge between probability and
A Random Variable, RV, is an assignment of real
numbers to each outcome in the sample space S.
The Probability De
Does order matter?
Permutation = an ordered selection
P n, r
(n r )!
Combination = an unordered selection
C n, r
(n r )!r!
Ex. A committee of 5 people is selected from 30
Ex. In how many ways can you select 2 flavors f