SESSION:4 Discrete Random Variables
Chapter Review
Session:4 Discrete 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 Introduction The characteristics of a probability distribution or density function (PDF) are as follows: Each probability is between zero and one, inclusive (inclusive means […]
SESSION:4 Discrete Random Variables
Key Terms
Session:4 Discrete 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 Bernoulli Trials an experiment with the following characteristics: There are only two possible outcomes called “success” and “failure” for each trial. The probability p of […]
SESSION:4 Discrete Random Variables
4.4 Poisson Distribution
Session:4 Discrete Random Variables 4.4 Poisson 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 Another useful probability distribution is the Poisson distribution, or waiting time distribution. This distribution is used to determine how many checkout clerks […]
SESSION:4 Discrete Random Variables
4.3 Geometric Distribution
Session:4 Discrete Random Variables 4.3 Geometric 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 geometric probability density function builds upon what we have learned from the binomial distribution. In this case the experiment continues until […]
SESSION:4 Discrete Random Variables
4.2 Binomial Distribution
Session:4 Discrete Random Variables 4.2 Binomial 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 A more valuable probability density function with many applications is the binomial distribution. This distribution will compute probabilities for any binomial process. […]
SESSION:4 Discrete Random Variables
4.1 Hypergeometric Distribution
Session:4 Discrete Random Variables 4.1 Hypergeometric 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 simplest probability density function is the hypergeometric. This is the most basic one because it is created by combining our knowledge […]
SESSION:3 Probability Topics
Solutions
Session:3 Probability Topics 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. P(L′) = P(S) P(M ∪ ∪ S) P(F ∩ ∩ L) P(M| | L) P(L| | M) P(S| | F) P(F| | L) P(F ∪ ∪ L) P(M ∩ […]
SESSION:3 Probability Topics
Bringing It Together: Homework
Session:3 Probability Topics Bringing It Together: 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 123. A previous year, the weights of the members of the San Francisco 49ers and the Dallas Cowboys were published in the San Jose Mercury News. The […]
SESSION:3 Probability Topics
Homework
Session:3 Probability Topics 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 3.1 Terminology 72. Figure 3.17 The graph in Figure 3.17 displays the sample sizes and percentages of people in different age and gender groups who were polled concerning their […]
SESSION:3 Probability Topics
References
Session:3 Probability Topics 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 3.1 Terminology “Countries List by Continent.” Worldatlas, 2013. Available online at http://www.worldatlas.com/cntycont.htm (accessed May 2, 2013). 3.2 Independent and Mutually Exclusive Events Lopez, Shane, Preety Sidhu. “U.S. […]