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In the next Section II we will describe the nature of the general purpose technol- ogy represented by cloud computing, its genesis and its likely impact on the econo- my and on the structure of many markets. As we will see, the introduction of cloud computing is going to reduce drastically the fixed costs of entry and production, turning part of them into variable costs related to the production necessities. This will have a positive impact on entry and competition in all sectors where fixed ICT spending is crucial. The positive association between ICT innovations and competi- tion is well known, and policymakers recognize that it may. | Business Statistics I QM 1 Lecture Notes by Stefan Waner 5th printing 2003 Department of Mathematics Hofstra University Business Statistcs I QM 001 5th printing 2003 Lecture Notes by Stefan Waner Table of Contents 0. Introduction.2 1. Describing Data Graphically.3 2. Measures of Central Tendency and Variability.8 3. Chebyshev s Rule The Empirical Rule.13 4. Introduction to Probability.15 5. Unions Intersections and Complements.23 6. Conditional Probability Independent Events.28 7. Discrete Random Variables.33 8. Binomial Random Variable.37 9. The Poisson and Hypergeometric Random Variables.44 10. Continuous Random Variables Uniform and Normal.46 11. Sampling Distributions and Central Limit Theorem.55 12. Confidence Interval for a Population Mean.61 13. Introduction to Hypothesis Testing.66 14. Observed Significance Small Samples.72 15. Confidence Intervals and Hypothesis Testing for the Proportion.75 1 Note Throughout these notes all references to the book refer to the class text Statistics for Business and Economics 8th Ed. by Anderson Sweeney Williams South-Western Thomson Learning 2002 Topic 0 Introduction Q What is statistics A Basically statistics is the science of data. There are three main tasks in statistics A collection and organization B analysis and C interpretation of data. A Collection and organization of data We will see several methods of organizing data graphically through the use of charts and graphs and numerically through the use of tables of data . The type of organization we do depends on the type of analysis we wish to perform. Quick Example Let us collect the status freshman sophomore junior senior of a group of 20 students in this class. We could then organize the data in any of the above ways. B Analysis of data Once the data is organized we can go ahead and compute various quantities called statistics or parameters associated with the data. Quick Example Assign 0 to freshmen 1 to sophomores etc. and compute the mean. C Interpretation of .
