SESSION:5 Continuous Random Variables
Chapter Review
Session:5 Continuous Random Variables Chapter Review Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics 5.1 Properties of Continuous Probability Density Functions The probability density function (pdf) is used to describe probabilities for continuous random variables. The area under […]
SESSION:5 Continuous Random Variables
Key Terms
Session:5 Continuous Random Variables Key Terms Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics Conditional Probability the likelihood that an event will occur given that another event has already occurred. decay parameter The decay parameter describes the […]
SESSION:5 Continuous Random Variables
5.3 The Exponential Distribution
Session:5 Continuous Random Variables 5.3 The Exponential Distribution Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics The exponential distribution is often concerned with the amount of time until some specific event occurs. For example, the amount of time (beginning […]
SESSION:5 Continuous Random Variables
5.2 The Uniform Distribution
Session:5 Continuous Random Variables 5.2 The Uniform Distribution Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics The uniform distribution is a continuous probability distribution and is concerned with events that are equally likely to occur. When working […]
SESSION:5 Continuous Random Variables
5.1 Properties of Continuous Probability Density Functions
Session:5 Continuous Random Variables 5.1 Properties of Continuous Probability Density Functions Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics The graph of a continuous probability distribution is a curve. Probability is represented by area under the curve. […]
SESSION:4 Discrete Random Variables
Solutions
Session:4 Discrete Random Variables Solutions Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics 1. x P(x) 0 0.12 1 0.18 2 0.30 3 0.15 4 0.10 5 0.10 6 0.05 Table 4.6 3. 0.10 + 0.05 = 0.15 […]
SESSION:4 Discrete Random Variables
References
Session:4 Discrete Random Variables References Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics 4.2 Binomial Distribution “Access to electricity (% of population),” The World Bank, 2013. Available online at http://data.worldbank.org/indicator/EG.ELC.ACCS.ZS?order=wbapi_data_value_2009%20wbapi_data_value%20wbapi_data_value-first&sort=asc (accessed May 15, 2015). “Distance Education.” Wikipedia. Available […]
SESSION:4 Discrete Random Variables
Homework
Session:4 Discrete Random Variables Homework Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics 4.1 Hypergeometric Distribution 47. A group of Martial Arts students is planning on participating in an upcoming demonstration. Six are students of Tae Kwon Do; […]
SESSION:4 Discrete Random Variables
Practice
Session:4 Discrete Random Variables Practice Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics Introduction Use the following information to answer the next five exercises: A company wants to evaluate its attrition rate, in other words, how long new […]
SESSION:4 Discrete Random Variables
Formula Review
Session:4 Discrete Random Variables Formula Review Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics 4.1 Hypergeometric Distribution h(x)=(Ax)(N−An−x)(Nn) ℎ(�)=���–��–��� 4.2 Binomial Distribution X ~ B(n, p) means that the discrete random variable X has a binomial probability distribution with n trials and probability of success p. X = […]