TAILIEUCHUNG - Lecture Statistical techniques in business and economics: Chapter 5 - Lind, Marchal, Wathen

In this chapter, you will learn to: Explain the terms random experiment, outcome, sample space, permutations, and combinations; define probability; describe the classical, empirical, and subjective approaches to probability; explain and calculate conditional probability and joint probability;. | A Survey of Probability Concepts Chapter 5 GOALS Define probability. Describe the classical, empirical, and subjective approaches to probability. Explain the terms experiment, event, outcome, permutations, and combinations. Define the terms conditional probability and joint probability. Calculate probabilities using the rules of addition and rules of multiplication. Apply a tree diagram to organize and compute probabilities. Calculate a probability using Bayes’ theorem. Probability, Experiment, Outcome, Event: Defined PROBABILITY A value between zero and one, inclusive, describing the relative possibility (chance or likelihood) an event will occur. An experiment is a process that leads to the occurrence of one and only one of several possible observations. An outcome is the particular result of an experiment. An event is the collection of one or more outcomes of an experiment. Mutually Exclusive Events and Collectively Exhaustive Events Events are mutually exclusive if .

• Kinh tế học
• Statistical techniques
• Statistical techniques in business
• Statistical techniques in economics
• Descriptive statistics
• The role of statistics
• Qualitative variable
• Statistical inference
• Independent samples
• Statistical process control
• Quality management
• Random observation
• Sampling methods
• Central limit theorem
• Confidence intervals
• Point estimator
• Confidence interval
• Hypothesis testing
• Alternative hypothesis
• Analysis of variance
• F distribution
• Linear regression
• Coefficient of correlation
• Multiple regression
• Multiple regression analysis
• Chi square applications
• Test of hypothesis
• Analysis of ranked data
• Kruskal Wallis test
• Index numbers
• Consumer price index
• Time series
• Linear trend equation
• Decision making
• Organize information
• Describing data
• Frequency distribution
• Central tendency
• Standard deviation
• Ungrouped data
• Probability concepts
• Random experiment
• Discrete probability distributions
• Continuous random variables
• Decision theory
• Decision alternative
• Inferential statistics
• Frequency tables
• Numerical measures