- Inferential: methods using sample results to infer conclusions about a larger pop n.

Size: px
Start display at page:

Download "- Inferential: methods using sample results to infer conclusions about a larger pop n."

Transcription

1 Chapter 6 Def : Statstcs: are commoly kow as umercal facts. s a feld of dscple or study. I ths class, statstcs s the scece of collectg, aalyzg, ad drawg coclusos from data. The methods help descrbe ad uderstad varablty. Types of statstcs: - Descrptve: methods to vew a gve dataset. - Iferetal: methods usg sample results to fer coclusos about a larger pop. Def : A varable s ay characterstc that s recorded for subjects a study. - Categorcal (qualtatve: caot assume a umercal value but classfable to or more o-umerc categores. - umercal (quattatve: measured umercally. - Dscrete: oly certa values wth o termedate values. - Cotuous: ay umercal value over a certa terval or tervals. Populato vs. Sample: Def : A populato cossts of all elemets whose characterstcs are beg studed. Ex6. A sample s a porto of the populato selected for study. Ex6. 6. Data Presetato Graphcal Summares for Categorcal Data Def : A bar chart s a graph of bars whose heghts represet the (relatve frequeces of respectve categores. Ex6.3 (created class Look for: frequetly ad frequetly occurrg categores. A Pareto chart arrages the categores order of decreasg frequecy Ex6.4 (created class Look for: frequetly ad frequetly occurrg categores. A pe chart s a crcle dvded to portos that represet (relatve frequecy belogg to dfferet categores. Ex6.5 (created class Look for: categores that form large ad small proportos of the data set. Graphcal Summares for umercal Data Def : A frequecy dstrbuto (for umercal data s a lstg of o-overlappg tervals, together wth the # of observatos for each terval (a.k.a. class or b. f Relatve frequecy (Cumulatve relatve frequecy also ests f The data dvde to tervals (ormally of equal wdth.

2 Worldwde Box Offce ( mllos 00 to to to to to to to 3000 umber of moves f Relatve Frequecy Cumulatve rel. freq. Def : A hstogram graphcally shows a frequecy dstrbuto for umercal data. Look for: - cetral or typcal value ad correspodg spread - gaps the data or outlers - presece of symmetry the dst - umber ad locato of peaks A outler s a obs that falls well above or below the overall bulk of the data. Ex6.6 (precedg table used for example class Hstogram trats: (correspodg curves draw class. Modes (umodal, bmodal, multmodal. Skewess (symmetrc, left-skewed & rght-skewed term refers to TAIL 3. Tal weght (ormal, heavy-taled, lght-taled 6.3 Sample Statstcs (ad more Def : A parameter s a summary measure calculated for pop data. A statstc s a summary measure calculated for sample data. Measures of Ceter: Def : If observatos a sample are deoted by x, x,, x, the sample mea s x + x x x Also, f there are obs s a etre populato, the the populato mea s µ The meda s the value of the mdpot of a data set that has bee raked order, creasg or decreasg. If dataset has a eve # of observatos, use the average of the mddle values. The mode s the most frequet value a data set. OTE: meda (ad mode resstat to outlers, mea uses all observatos.

3 Table 6X0 Estmated provcal populatos crca Jul. 0 ( mllos O PQ BC AB MB SK S B L PEI Ex6.7 Avg. pop of all provces: µ meda x mode o mode here Avg. pop from sample of 3 provces: x Outler effect? (remove Otaro & Quebec Comparg Mea, Meda & Mode Hstograms: (graphs draw class. Symmetrc curve & hstogram - all 3 detcal ad le at the ceter of the dstrbuto. Rght-skewed: Mode < Meda < Mea 3. Left-skewed: Mea < Meda < Mode Measures of Spread: Def : The sample rage s rage max(x m(x Ex6.8 (from Table 6X0 rage Devatos from the Mea: Ex6.9,, 4, 3 x x x ( x 0 ote that ( x µ ad ( x, aka devato of x from the mea, both equal zero. Varace ad Stadard Devato: The most commo measure of spread s stadard devato. Varace, however, must be calculated frst. The basc formulas for varace are: ( µ ( σ s where σ s the populato varace ad s the sample varace.

4 ( Sce(, the varace formulas become x ( x ( σ ad s Fdg the stadard devato oly requres takg the square root of the varace. Populato: σ σ Sample: s s Ex6.0,, 4, 3 x 0, x 30, σ If the data was a sample, ( x σ s, s Importat otes:. Stadard devato measures spread oly about the mea (.e. ot the meda.. Values of varace ad std. dev. are ever egatve. (Equals zero oly f o spread. 3. The measuremet uts of varace are always the square of the uts of the orgal data. 4. Stadard devato, lke the mea, s ot resstat to outlers. 5. Cosder the sample varace s to have degrees of freedom. There are observatos, ad devatos from the mea. Sce the total always sums to zero, of these quattes determes the remag oe. Thus, oly of the devatos, x x, are freely determed. (Degrees of freedom apply oly to samples. Boxplots: Def : The p th quatle s a value such that p percet of the observatos fall below or at that value. Three useful quatles are quartles. The lower (or frst quartle has p 5, the meda has p 50, ad the upper (or thrd quartle has p 75. The fve-umber summary cossts of the m, Q, meda, Q 3, ad the max. (vsual represetato of above draw class Def : The terquartle rage (IQR s the dfferece betwee the frst ad thrd quartles. IQR Q 3 Q (IQR s also a measure of spread Ex (examples regardg fdg quartles wth other # s of observatos dscussed class ote: For exams, ICLUDE the meda calculatg Q ad Q 3.

5 Def : A boxplot shows the ceter, spread, ad skewess of a data set. To costruct t: Step : Rak the data creasg order ad fd the meda, Q, Q 3, ad IQR. Use data from Ex6. to costruct a boxplot. Step : Fd the pots beyod the boudares:.5*iqr below Q ad.5*iqr above Q 3, kow as the lower & upper er feces, respectvely. These pots are outlers..5*iqr Lower.f. Upper.f. Step 3: Determe smallest & largest values wth the respectve er feces. small large Step 4: Draw lear scale cotag etre rage of data. Step 5: Draw perpedcular les to the scale to dcate Q ad Q 3. Coect eds of both les. Box wdth IQR Step 6: Draw aother le perpedcular to the scale to dcate the meda sde the box. Step 7: Draw two smaller les perpedcular to the scale for the values from Step 3. Jo ther ceters to the box to make whskers. (boxplot draw class What to do wth outlers? Cosder lower & upper outer feces at 3.0*IQR below Q ad 3.0*IQR above Q 3. Ex6. 3.0*IQR Lower o.f. Upper o.f. A mld outler s outsde a er fece but sde the outer fece. A extreme outler s outsde ether outer fece. Some textbooks represet mld outlers by shaded crcles, extreme outlers by ope crcles. Our textbook uses astersks, *, as well. Overall, classfyg outlers s mportat whereas drawg them a certa way s subjectve. Whskers exted o each ed to the most extreme obs s that are OT outlers. Ex6.3 Aalyzg ceter, spread, ad skewess: - What s the appromate value of the ceter? - What s the wdth of the IQR? - Are the data symmetrc or skewed? Boxplot vs. Hstogram: Each graph hghlghts dfferet features of a data set (layers of skewess ad skewess/modalty, respectvely, so t s always better to costruct both.

Inferential: methods using sample results to infer conclusions about a larger population.

Inferential: methods using sample results to infer conclusions about a larger population. Chapter 1 Def : Statstcs: 1) are commoly kow as umercal facts ) s a feld of dscple or study Here, statstcs s about varato. 3 ma aspects of statstcs: 1) Desg ( Thk ): Plag how to obta data to aswer questos.

More information

= 1. UCLA STAT 13 Introduction to Statistical Methods for the Life and Health Sciences. Parameters and Statistics. Measures of Centrality

= 1. UCLA STAT 13 Introduction to Statistical Methods for the Life and Health Sciences. Parameters and Statistics. Measures of Centrality UCLA STAT Itroducto to Statstcal Methods for the Lfe ad Health Sceces Istructor: Ivo Dov, Asst. Prof. of Statstcs ad Neurolog Teachg Assstats: Brad Shaata & Tffa Head Uverst of Calfora, Los Ageles, Fall

More information

? Economical statistics

? Economical statistics Probablty calculato ad statstcs Probablty calculato Mathematcal statstcs Appled statstcs? Ecoomcal statstcs populato statstcs medcal statstcs etc. Example: blood type Dstrbuto A AB B Elemetary evets: A,

More information

CHAPTER - IV STANDARDIZED CUSUM MEDIAN CONTROL CHART

CHAPTER - IV STANDARDIZED CUSUM MEDIAN CONTROL CHART A Study o Process Varablty usg CUSUM ad Fuzzy Cotrol Charts Ph.D Thess CHAPTER - IV STANDARDIZED CUSUM MEDIAN CONTROL CHART. Itroducto: I motorg e process mea, e Mea ( X ) cotrol charts, ad cumulatve sum

More information

A Test of Normality. Textbook Reference: Chapter 14.2 (eighth edition, pages 591 3; seventh edition, pages 624 6).

A Test of Normality. Textbook Reference: Chapter 14.2 (eighth edition, pages 591 3; seventh edition, pages 624 6). A Test of Normalty Textbook Referece: Chapter 4. (eghth edto, pages 59 ; seveth edto, pages 64 6). The calculato of p-values for hypothess testg typcally s based o the assumpto that the populato dstrbuto

More information

1036: Probability & Statistics

1036: Probability & Statistics 036: Probablty & Statstcs Lecture 9 Oe- ad Two-Sample Estmato Problems Prob. & Stat. Lecture09 - oe-/two-sample estmato cwlu@tws.ee.ctu.edu.tw 9- Statstcal Iferece Estmato to estmate the populato parameters

More information

Measures of Dispersion

Measures of Dispersion Chapter IV Meaure of Dpero R. 4.. The meaure of locato cate the geeral magtue of the ata a locate oly the cetre of a trbuto. They o ot etablh the egree of varablty or the prea out or catter of the vual

More information

Probability and Statistical Methods. Chapter 8 Fundamental Sampling Distributions

Probability and Statistical Methods. Chapter 8 Fundamental Sampling Distributions Math 3 Probablty ad Statstcal Methods Chapter 8 Fudametal Samplg Dstrbutos Samplg Dstrbutos I the process of makg a ferece from a sample to a populato we usually calculate oe or more statstcs, such as

More information

Probability and Statistical Methods. Chapter 8 Fundamental Sampling Distributions

Probability and Statistical Methods. Chapter 8 Fundamental Sampling Distributions Math 3 Probablty ad Statstcal Methods Chapter 8 Fudametal Samplg Dstrbutos Samplg Dstrbutos I the process of makg a ferece from a sample to a populato we usually calculate oe or more statstcs, such as

More information

IEOR 130 Methods of Manufacturing Improvement Fall, 2017 Prof. Leachman Solutions to First Homework Assignment

IEOR 130 Methods of Manufacturing Improvement Fall, 2017 Prof. Leachman Solutions to First Homework Assignment IEOR 130 Methods of Maufacturg Improvemet Fall, 2017 Prof. Leachma Solutos to Frst Homework Assgmet 1. The scheduled output of a fab a partcular week was as follows: Product 1 1,000 uts Product 2 2,000

More information

TOPIC 7 ANALYSING WEIGHTED DATA

TOPIC 7 ANALYSING WEIGHTED DATA TOPIC 7 ANALYSING WEIGHTED DATA You do t have to eat the whole ox to kow that the meat s tough. Samuel Johso Itroducto dfferet aalyss for sample data Up utl ow, all of the aalyss techques have oly dealt

More information

Chapter 3 Student Lecture Notes 3-1

Chapter 3 Student Lecture Notes 3-1 Chapter 3 Student Lecture otes 3-1 Busness Statstcs: A Decson-Makng Approach 6 th Edton Chapter 3 Descrbng Data Usng umercal Measures 005 Prentce-Hall, Inc. Chap 3-1 Chapter Goals After completng ths chapter,

More information

Gene Expression Data Analysis (II) statistical issues in spotted arrays

Gene Expression Data Analysis (II) statistical issues in spotted arrays STATC4 Sprg 005 Lecture Data ad fgures are from Wg Wog s computatoal bology course at Harvard Gee Expresso Data Aalyss (II) statstcal ssues spotted arrays Below shows part of a result fle from mage aalyss

More information

Consult the following resources to familiarize yourself with the issues involved in conducting surveys:

Consult the following resources to familiarize yourself with the issues involved in conducting surveys: Cofdece Itervals Learg Objectves: After completo of ths module, the studet wll be able to costruct ad terpret cofdece tervals crtcally evaluate the outcomes of surveys terpret the marg of error the cotext

More information

Mathematics 1307 Sample Placement Examination

Mathematics 1307 Sample Placement Examination Mathematcs 1307 Sample Placemet Examato 1. The two les descrbed the followg equatos tersect at a pot. What s the value of x+y at ths pot of tersecto? 5x y = 9 x 2y = 4 A) 1/6 B) 1/3 C) 0 D) 1/3 E) 1/6

More information

Random Variables. Discrete Random Variables. Example of a random variable. We will look at: Nitrous Oxide Example. Nitrous Oxide Example

Random Variables. Discrete Random Variables. Example of a random variable. We will look at: Nitrous Oxide Example. Nitrous Oxide Example Radom Varables Dscrete Radom Varables Dr. Tom Ilveto BUAD 8 Radom Varables varables that assume umercal values assocated wth radom outcomes from a expermet Radom varables ca be: Dscrete Cotuous We wll

More information

Valuation of Asian Option

Valuation of Asian Option Mälardales Uversty västerås 202-0-22 Mathematcs ad physcs departmet Project aalytcal face I Valuato of Asa Opto Q A 90402-T077 Jgjg Guo89003-T07 Cotet. Asa opto------------------------------------------------------------------3

More information

Deriving & Understanding the Variance Formulas

Deriving & Understanding the Variance Formulas Dervg & Uderstadg the Varace Formulas Ma H. Farrell BUS 400 August 28, 205 The purpose of ths hadout s to derve the varace formulas that we dscussed class ad show why take the form they do. I class we

More information

Types of Sampling Plans. Types of Sampling Plans. Sampling Procedures. Probability Samples -Simple Random sample -Stratified sample -Cluster sample

Types of Sampling Plans. Types of Sampling Plans. Sampling Procedures. Probability Samples -Simple Random sample -Stratified sample -Cluster sample Samplg Procedures Defe the Populato Idetfy the Samplg Frame Select a Samplg Procedure Determe the Sample Sze Select the Sample Elemets Collect the Data Types of Samplg Plas o-probablty Samples -Coveece

More information

The Consumer Price Index for All Urban Consumers (Inflation Rate)

The Consumer Price Index for All Urban Consumers (Inflation Rate) The Cosumer Prce Idex for All Urba Cosumers (Iflato Rate) Itroducto: The Cosumer Prce Idex (CPI) s the measure of the average prce chage of goods ad servces cosumed by Iraa households. Ths measure, as

More information

Lecture 9 February 21

Lecture 9 February 21 Math 239: Dscrete Mathematcs for the Lfe Sceces Sprg 2008 Lecture 9 February 21 Lecturer: Lor Pachter Scrbe/ Edtor: Sudeep Juvekar/ Alle Che 9.1 What s a Algmet? I ths lecture, we wll defe dfferet types

More information

Sample Survey Design

Sample Survey Design Sample Survey Desg A Hypotetcal Exposure Scearo () Assume we kow te parameters of a worker s exposure dstrbuto of 8-our TWAs to a cemcal. As t appes, te worker as four dfferet types of days wt regard to

More information

SCEA CERTIFICATION EXAM: PRACTICE QUESTIONS AND STUDY AID

SCEA CERTIFICATION EXAM: PRACTICE QUESTIONS AND STUDY AID SCEA CERTIFICATION EAM: PRACTICE QUESTIONS AND STUDY AID Lear Regresso Formulas Cheat Sheet You ma use the followg otes o lear regresso to work eam questos. Let be a depedet varable ad be a depedet varable

More information

Integrating Mean and Median Charts for Monitoring an Outlier-Existing Process

Integrating Mean and Median Charts for Monitoring an Outlier-Existing Process Proceedgs of the Iteratoal MultCoferece of Egeers ad Computer Scetsts 8 Vol II IMECS 8 19-1 March 8 Hog Kog Itegratg Mea ad Meda Charts for Motorg a Outler-Exstg Process Lg Yag Suzae Pa ad Yuh-au Wag Abstract

More information

Chapter 4. More Interest Formulas

Chapter 4. More Interest Formulas Chapter 4 More Iterest ormulas Uform Seres Compoud Iterest ormulas Why? May paymets are based o a uform paymet seres. e.g. automoble loas, house paymets, ad may other loas. 2 The Uform aymet Seres s 0

More information

Chapter 4. More Interest Formulas

Chapter 4. More Interest Formulas Chapter 4 More Iterest ormulas Uform Seres Compoud Iterest ormulas Why? May paymets are based o a uform paymet seres. e.g. automoble loas, house paymets, ad may other loas. 2 The Uform aymet Seres s 0

More information

These characteristics are expressed in terms of statistical properties which are estimated from the sample data.

These characteristics are expressed in terms of statistical properties which are estimated from the sample data. 0. Key Statistical Measures of Data Four pricipal features which characterize a set of observatios o a radom variable are: (i) the cetral tedecy or the value aroud which all other values are buched, (ii)

More information

Poverty indices. P(k;z; α ) = P(k;z; α ) /(z) α. If you wish to compute the FGT index of poverty, follow these steps:

Poverty indices. P(k;z; α ) = P(k;z; α ) /(z) α. If you wish to compute the FGT index of poverty, follow these steps: Poverty dces DAD offers four possbltes for fxg the poverty le: - A determstc poverty le set by the user. 2- A poverty le equal to a proporto l of the mea. 3- A poverty le equal to a proporto m of a quatle

More information

Optimal Reliability Allocation

Optimal Reliability Allocation Optmal Relablty Allocato Yashwat K. Malaya malaya@cs.colostate.edu Departmet of Computer Scece Colorado State Uversty Relablty Allocato Problem Allocato the relablty values to subsystems to mmze the total

More information

Chapter 8. Confidence Interval Estimation. Copyright 2015, 2012, 2009 Pearson Education, Inc. Chapter 8, Slide 1

Chapter 8. Confidence Interval Estimation. Copyright 2015, 2012, 2009 Pearson Education, Inc. Chapter 8, Slide 1 Chapter 8 Cofidece Iterval Estimatio Copyright 2015, 2012, 2009 Pearso Educatio, Ic. Chapter 8, Slide 1 Learig Objectives I this chapter, you lear: To costruct ad iterpret cofidece iterval estimates for

More information

0.07 (12) i 1 1 (12) 12n. *Note that N is always the number of payments, not necessarily the number of years. Also, for

0.07 (12) i 1 1 (12) 12n. *Note that N is always the number of payments, not necessarily the number of years. Also, for Chapter 3, Secto 2 1. (S13HW) Calculate the preset value for a auty that pays 500 at the ed of each year for 20 years. You are gve that the aual terest rate s 7%. 20 1 v 1 1.07 PV Qa Q 500 5297.01 0.07

More information

Application of Portfolio Theory to Support Resource Allocation Decisions for Biosecurity

Application of Portfolio Theory to Support Resource Allocation Decisions for Biosecurity Applcato of Portfolo Theory to Support Resource Allocato Decsos for Bosecurty Paul Mwebaze Ecoomst 11 September 2013 CES/BIOSECURITY FLAGSHIP Presetato outle The resource allocato problem What ca ecoomcs

More information

ON MAXIMAL IDEAL OF SKEW POLYNOMIAL RINGS OVER A DEDEKIND DOMAIN

ON MAXIMAL IDEAL OF SKEW POLYNOMIAL RINGS OVER A DEDEKIND DOMAIN Far East Joural of Mathematcal Sceces (FJMS) Volume, Number, 013, Pages Avalable ole at http://pphmj.com/jourals/fjms.htm Publshed by Pushpa Publshg House, Allahabad, INDIA ON MAXIMAL IDEAL OF SKEW POLYNOMIAL

More information

MEASURING THE FOREIGN EXCHANGE RISK LOSS OF THE BANK

MEASURING THE FOREIGN EXCHANGE RISK LOSS OF THE BANK Gabrel Bstrceau, It.J.Eco. es., 04, v53, 7 ISSN: 9658 MEASUING THE FOEIGN EXCHANGE ISK LOSS OF THE BANK Gabrel Bstrceau Ecoomst, Ph.D. Face Natoal Bak of omaa Bucharest, Moetary Polcy Departmet, 5 Lpsca

More information

CHAPTER 8. r E( r ) m e. Reduces the number of inputs for diversification. Easier for security analysts to specialize

CHAPTER 8. r E( r ) m e. Reduces the number of inputs for diversification. Easier for security analysts to specialize CHATE 8 Idex odels cgra-hll/ir Copyrght 0 by The cgra-hll Compaes, Ic. All rghts reserved. 8- Advatages of the Sgle Idex odel educes the umber of puts for dversfcato Easer for securty aalysts to specalze

More information

Chapter 3 Descriptive Statistics: Numerical Measures Part B

Chapter 3 Descriptive Statistics: Numerical Measures Part B Sldes Prepared by JOHN S. LOUCKS St. Edward s Unversty Slde 1 Chapter 3 Descrptve Statstcs: Numercal Measures Part B Measures of Dstrbuton Shape, Relatve Locaton, and Detectng Outlers Eploratory Data Analyss

More information

Sorting. Data Structures LECTURE 4. Comparison-based sorting. Sorting algorithms. Quick-Sort. Example (1) Pivot

Sorting. Data Structures LECTURE 4. Comparison-based sorting. Sorting algorithms. Quick-Sort. Example (1) Pivot Data Structures, Sprg 004. Joskowcz Data Structures ECUE 4 Comparso-based sortg Why sortg? Formal aalyss of Quck-Sort Comparso sortg: lower boud Summary of comparso-sortg algorthms Sortg Defto Iput: A

More information

Two Approaches for Log-Compression Parameter Estimation: Comparative Study*

Two Approaches for Log-Compression Parameter Estimation: Comparative Study* SERBAN JOURNAL OF ELECTRCAL ENGNEERNG Vol. 6, No. 3, December 009, 419-45 UDK: 61.391:61.386 Two Approaches for Log-Compresso Parameter Estmato: Comparatve Study* Mlorad Paskaš 1 Abstract: Stadard ultrasoud

More information

COMPARISON OF APPROACHES TO TESTING EQUALITY OF EXPECTATIONS AMONG SAMPLES FROM POISSON AND NEGATIVE BINOMIAL DISTRIBUTION

COMPARISON OF APPROACHES TO TESTING EQUALITY OF EXPECTATIONS AMONG SAMPLES FROM POISSON AND NEGATIVE BINOMIAL DISTRIBUTION ACTA UNIVERSITATIS AGRICULTURAE ET SILVICULTURAE MENDELIANAE BRUNENSIS Volume 66 0 Number 4, 08 https://do.org/0.8/actau08660405 COMPARISON OF APPROACHES TO TESTING EQUALITY OF EXPECTATIONS AMONG SAMPLES

More information

b. (6 pts) State the simple linear regression models for these two regressions: Y regressed on X, and Z regressed on X.

b. (6 pts) State the simple linear regression models for these two regressions: Y regressed on X, and Z regressed on X. Mat 46 Exam Sprg 9 Mara Frazer Name SOLUTIONS Solve all problems, ad be careful ot to sped too muc tme o a partcular problem. All ecessary SAS fles are our usual folder (P:\data\mat\Frazer\Regresso). You

More information

UNIVERSITY OF VICTORIA Midterm June 6, 2018 Solutions

UNIVERSITY OF VICTORIA Midterm June 6, 2018 Solutions UIVERSITY OF VICTORIA Mdterm June 6, 08 Solutons Econ 45 Summer A0 08 age AME: STUDET UMBER: V00 Course ame & o. Descrptve Statstcs and robablty Economcs 45 Secton(s) A0 CR: 3067 Instructor: Betty Johnson

More information

APPENDIX M: NOTES ON MOMENTS

APPENDIX M: NOTES ON MOMENTS APPENDIX M: NOTES ON MOMENTS Every stats textbook covers the propertes of the mea ad varace great detal, but the hgher momets are ofte eglected. Ths s ufortuate, because they are ofte of mportat real-world

More information

GAUTENG DEPARTMENT OF EDUCATION SENIOR SECONDARY INTERVENTION PROGRAMME MATHEMATICS GRADE 12 SESSION 3 (LEARNER NOTES)

GAUTENG DEPARTMENT OF EDUCATION SENIOR SECONDARY INTERVENTION PROGRAMME MATHEMATICS GRADE 12 SESSION 3 (LEARNER NOTES) MATHEMATICS GRADE SESSION 3 (LEARNER NOTES) TOPIC 1: FINANCIAL MATHEMATICS (A) Learer Note: Ths sesso o Facal Mathematcs wll deal wth future ad preset value autes. A future value auty s a savgs pla for

More information

An Efficient Estimator Improving the Searls Normal Mean Estimator for Known Coefficient of Variation

An Efficient Estimator Improving the Searls Normal Mean Estimator for Known Coefficient of Variation ISSN: 2454-2377, A Effcet Estmator Improvg the Searls Normal Mea Estmator for Kow Coeffcet of Varato Ashok Saha Departmet of Mathematcs & Statstcs, Faculty of Scece & Techology, St. Auguste Campus The

More information

Mode is the value which occurs most frequency. The mode may not exist, and even if it does, it may not be unique.

Mode is the value which occurs most frequency. The mode may not exist, and even if it does, it may not be unique. 1.7.4 Mode Mode s the value whch occurs most frequency. The mode may not exst, and even f t does, t may not be unque. For ungrouped data, we smply count the largest frequency of the gven value. If all

More information

Economic Efficiency of Pecan Nut Production: An Application of Output Oriented DEA Model

Economic Efficiency of Pecan Nut Production: An Application of Output Oriented DEA Model Iteratoal Joural of Agrculture, Evromet ad Botechology Ctato: IJAEB: 10(4): 507-512, August 2017 DOI: 10.5958/2230-732X.2017.00062.6 2017 New Delh Publshers. All rghts reserved ECONOMICS Ecoomc Effcecy

More information

8.0% E(R) 6.0% Lend. Borrow 4.0% 2.0% rf rf 0.0% 0.0% 1.0% 2.0% 3.0% 4.0% STD(R) E(R) Long A and Short B. Long A and Long B. Short A and Long B

8.0% E(R) 6.0% Lend. Borrow 4.0% 2.0% rf rf 0.0% 0.0% 1.0% 2.0% 3.0% 4.0% STD(R) E(R) Long A and Short B. Long A and Long B. Short A and Long B F8000 Valuato of Facal ssets Sprg Semester 00 Dr. Isabel Tkatch ssstat Professor of Face Ivestmet Strateges Ledg vs. orrowg rsk-free asset) Ledg: a postve proporto s vested the rsk-free asset cash outflow

More information

Overview. Linear Models Connectionist and Statistical Language Processing. Numeric Prediction. Example

Overview. Linear Models Connectionist and Statistical Language Processing. Numeric Prediction. Example Overvew Lear Models Coectost ad Statstcal Laguage Processg Frak Keller keller@col.u-sb.de Computerlgustk Uverstät des Saarlades classfcato vs. umerc predcto lear regresso least square estmato evaluatg

More information

Twitter: @Owe134866 www.mathsfreeresourcelibrary.com Prior Kowledge Check 1) State whether each variable is qualitative or quatitative: a) Car colour Qualitative b) Miles travelled by a cyclist c) Favourite

More information

Solutions to Problems

Solutions to Problems Solutos to Problems ( Pt Pt + Ct) P5-. LG : Rate of retur: rt Pt Basc ($,000 $0,000 + $,500) a. Ivestmet X: Retur.50% $0,000 Ivestmet Y: Retur ($55,000 $55,000 + $6,800).36% $55,000 b. Ivestmet X should

More information

Monetary fee for renting or loaning money.

Monetary fee for renting or loaning money. Ecoomcs Notes The follow otes are used for the ecoomcs porto of Seor Des. The materal ad examples are extracted from Eeer Ecoomc alyss 6 th Edto by Doald. Newa, Eeer ress. Notato Iterest rate per perod.

More information

Review. Statistics and Quantitative Analysis U4320. Review: Sampling. Review: Sampling (cont.) Population and Sample Estimates:

Review. Statistics and Quantitative Analysis U4320. Review: Sampling. Review: Sampling (cont.) Population and Sample Estimates: Stattc ad Quattatve Aaly U430 Segmet 6: Cofdece Iterval Prof. Shary O Hallora URL: http://www.columba.edu/tc/pa/u430y-003/ Revew Populato ad Sample Etmate: Populato Sample N X X Mea = = µ = X = N Varace

More information

0.07. i PV Qa Q Q i n. Chapter 3, Section 2

0.07. i PV Qa Q Q i n. Chapter 3, Section 2 Chapter 3, Secto 2 1. (S13HW) Calculate the preset value for a auty that pays 500 at the ed of each year for 20 years. You are gve that the aual terest rate s 7%. 20 1 v 1 1.07 PV Qa Q 500 5297.01 0.07

More information

Non-life insurance mathematics. Nils F. Haavardsson, University of Oslo and DNB Skadeforsikring

Non-life insurance mathematics. Nils F. Haavardsson, University of Oslo and DNB Skadeforsikring No-lfe surace mathematcs Nls F. Haavardsso, Uversty of Oslo ad DNB Skadeforskrg Repetto clam se The cocept No parametrc modellg Scale famles of dstrbutos Fttg a scale famly Shfted dstrbutos Skewess No

More information

MATHEMATICAL MODELLING OF RISK IN PORTFOLIO OPTIMIZATION WITH MEAN- EXTENDED GINI APPROACH

MATHEMATICAL MODELLING OF RISK IN PORTFOLIO OPTIMIZATION WITH MEAN- EXTENDED GINI APPROACH SCIREA Joural of Mathematcs http://www.screa.org/joural/mathematcs December 21, 2016 Volume 1, Issue 2, December 2016 MATHEMATICAL MODELLING OF RISK IN PORTFOLIO OPTIMIZATION WITH MEAN- EXTENDED GINI APPROACH

More information

ETSI TS V1.2.1 ( )

ETSI TS V1.2.1 ( ) TS 0 50-6 V.. (004-0) Techcal Specfcato Speech Processg, Trasmsso ad Qualty Aspects (STQ); QoS aspects for popular servces GSM ad 3G etworks; Part 6: Post processg ad statstcal methods TS 0 50-6 V.. (004-0)

More information

II. Random Variables. Variable Types. Variables Map Outcomes to Numbers

II. Random Variables. Variable Types. Variables Map Outcomes to Numbers II. Random Varables Random varables operate n much the same way as the outcomes or events n some arbtrary sample space the dstncton s that random varables are smply outcomes that are represented numercally.

More information

Forecasting the Movement of Share Market Price using Fuzzy Time Series

Forecasting the Movement of Share Market Price using Fuzzy Time Series Iteratoal Joural of Fuzzy Mathematcs ad Systems. Volume 1, Number 1 (2011), pp. 73-79 Research Ida Publcatos http://www.rpublcato.com Forecastg the Movemet of Share Market Prce usg Fuzzy Tme Seres B.P.

More information

AMS Final Exam Spring 2018

AMS Final Exam Spring 2018 AMS57.1 Fal Exam Sprg 18 Name: ID: Sgature: Istructo: Ths s a close book exam. You are allowed two pages 8x11 formula sheet (-sded. No cellphoe or calculator or computer or smart watch s allowed. Cheatg

More information

An Empirical Based Path Loss model with Tree Density Effects for 1.8 GHz Mobile Communications Using Fuzzy Regression

An Empirical Based Path Loss model with Tree Density Effects for 1.8 GHz Mobile Communications Using Fuzzy Regression Proceedgs of the 5th WSEAS It Cof o Electrocs, Hardware, Wreless ad Optcal Commucatos, Madrd, Spa, February 15-17, 26 (pp5-57) A Emprcal Based Path Loss model wth Tree Desty Effects for 18 GHz Moble Commucatos

More information

A Hierarchical Multistage Interconnection Network

A Hierarchical Multistage Interconnection Network A Herarchcal Multstage Itercoecto Networ Mohtar Aboelaze Dept. of Computer Scece Yor Uversty Toroto, ON. CANADA M3J P3 aboelaze@cs.yoru.ca Kashf Al Dept. of Computer Scece Yor Uversty Toroto, ON. CANADA

More information

Statistics for Economics & Business

Statistics for Economics & Business Statistics for Ecoomics & Busiess Cofidece Iterval Estimatio Learig Objectives I this chapter, you lear: To costruct ad iterpret cofidece iterval estimates for the mea ad the proportio How to determie

More information

Robust Statistical Analysis of Long-Term Performance For Sharia-Compliant Companies in Malaysia Stock Exchange

Robust Statistical Analysis of Long-Term Performance For Sharia-Compliant Companies in Malaysia Stock Exchange Iteratoal Joural of Maagemet Scece ad Busess Admstrato Volume 3, Issue 3, March 07, Pages 49-66 DOI: 0.8775/jmsba.849-5664-549.04.33.006 URL: http://dx.do.org/0.8775/jmsba.849-5664-549.04.33.006 Robust

More information

Prediction Error of the Future Claims Component of Premium Liabilities under the Loss Ratio Approach. International Regulatory Changes

Prediction Error of the Future Claims Component of Premium Liabilities under the Loss Ratio Approach. International Regulatory Changes Predcto rror o the Future lams ompoet o Premum Labltes uder the Loss Rato Approach (accepted to be publshed ace) AS Aual Meetg November 8 00 Jacke L PhD FIAA Nayag Busess School Nayag Techologcal Uversty

More information

Today: Finish Chapter 9 (Sections 9.6 to 9.8 and 9.9 Lesson 3)

Today: Finish Chapter 9 (Sections 9.6 to 9.8 and 9.9 Lesson 3) Today: Fiish Chapter 9 (Sectios 9.6 to 9.8 ad 9.9 Lesso 3) ANNOUNCEMENTS: Quiz #7 begis after class today, eds Moday at 3pm. Quiz #8 will begi ext Friday ad ed at 10am Moday (day of fial). There will be

More information

STATIC GAMES OF INCOMPLETE INFORMATION

STATIC GAMES OF INCOMPLETE INFORMATION ECON 10/410 Decsos, Markets ad Icetves Lecture otes.11.05 Nls-Herk vo der Fehr SAIC GAMES OF INCOMPLEE INFORMAION Itroducto Complete formato: payoff fuctos are commo kowledge Icomplete formato: at least

More information

Measures of Spread IQR and Deviation. For exam X, calculate the mean, median and mode. For exam Y, calculate the mean, median and mode.

Measures of Spread IQR and Deviation. For exam X, calculate the mean, median and mode. For exam Y, calculate the mean, median and mode. Part 4 Measures of Spread IQR and Devaton In Part we learned how the three measures of center offer dfferent ways of provdng us wth a sngle representatve value for a data set. However, consder the followng

More information

6. Loss systems. ELEC-C7210 Modeling and analysis of communication networks 1

6. Loss systems. ELEC-C7210 Modeling and analysis of communication networks 1 ELEC-C72 Modelg ad aalyss of commucato etwors Cotets Refresher: Smple teletraffc model Posso model customers, servers Applcato to flow level modellg of streamg data traffc Erlag model customers, ; servers

More information

Estimating the Common Mean of k Normal Populations with Known Variance

Estimating the Common Mean of k Normal Populations with Known Variance Iteratoal Joural of Statstcs ad Probablty; Vol 6, No 4; July 07 ISSN 97-703 E-ISSN 97-7040 Publshed by Caada Ceter of Scece ad Educato Estmatg the Commo Mea of Normal Populatos wth Kow Varace N Sajar Farspour

More information

Lecture 4: Probability (continued)

Lecture 4: Probability (continued) Lecture 4: Probability (cotiued) Desity Curves We ve defied probabilities for discrete variables (such as coi tossig). Probabilities for cotiuous or measuremet variables also are evaluated usig relative

More information

A point estimate is the value of a statistic that estimates the value of a parameter.

A point estimate is the value of a statistic that estimates the value of a parameter. Chapter 9 Estimatig the Value of a Parameter Chapter 9.1 Estimatig a Populatio Proportio Objective A : Poit Estimate A poit estimate is the value of a statistic that estimates the value of a parameter.

More information

Confidence Intervals Introduction

Confidence Intervals Introduction Cofidece Itervals Itroductio A poit estimate provides o iformatio about the precisio ad reliability of estimatio. For example, the sample mea X is a poit estimate of the populatio mea μ but because of

More information

. (The calculated sample mean is symbolized by x.)

. (The calculated sample mean is symbolized by x.) Stat 40, sectio 5.4 The Cetral Limit Theorem otes by Tim Pilachowski If you have t doe it yet, go to the Stat 40 page ad dowload the hadout 5.4 supplemet Cetral Limit Theorem. The homework (both practice

More information

Keywords: financial risk management, tractable risk measures, portfolio selection, efficient frontiers, linear programming problem.

Keywords: financial risk management, tractable risk measures, portfolio selection, efficient frontiers, linear programming problem. THE EMPIRICAL VALUE-AT-RISK/EXPECTED RETURN FRONTIER: A USEFUL TOOL OF MARKET RISK MANAGING Aalsa D Clemete Abstract I addto to measurg ad motorg facal rs, t s mportat for rs maagers to uderstad how facal

More information

Variable weight combined forecast of China s energy demand based on grey model and BP neural network

Variable weight combined forecast of China s energy demand based on grey model and BP neural network Avalable ole www.jocpr.com Joural of Chemcal ad Pharmaceutcal Research, 2014, 6(4):303-308 Research Artcle ISSN : 0975-7384 CODEN(USA) : JCPRC5 Varable weght combed forecast of Cha s eergy demad based

More information

ST 305: Exam 2 Fall 2014

ST 305: Exam 2 Fall 2014 ST 305: Exam Fall 014 By hadig i this completed exam, I state that I have either give or received assistace from aother perso durig the exam period. I have used o resources other tha the exam itself ad

More information

Mean-Semivariance Optimization: A Heuristic Approach

Mean-Semivariance Optimization: A Heuristic Approach Mea-Semvarace Optmzato: A Heurstc Approach Javer Estrada IESE Busess School, Aveda Pearso 1, 08034 Barceloa, Spa Tel: +34 93 53 400, Fax: +34 93 53 4343, Emal: jestrada@ese.edu Abstract Academcs ad practtoers

More information

Variance Covariance (Delta Normal) Approach of VaR Models: An Example From Istanbul Stock Exchange

Variance Covariance (Delta Normal) Approach of VaR Models: An Example From Istanbul Stock Exchange ISSN 2222-697 (Paper) ISSN 2222-2847 (Ole) Vol.7, No.3, 206 Varace Covarace (Delta Normal) Approach of VaR Models: A Example From Istabul Stock Exchage Dr. Ihsa Kulal Iformato ad Commucato Techologes Authorty,

More information

Topic-7. Large Sample Estimation

Topic-7. Large Sample Estimation Topic-7 Large Sample Estimatio TYPES OF INFERENCE Ò Estimatio: É Estimatig or predictig the value of the parameter É What is (are) the most likely values of m or p? Ò Hypothesis Testig: É Decidig about

More information

May 2005 Exam Solutions

May 2005 Exam Solutions May 005 Exam Soluto 1 E Chapter 6, Level Autes The preset value of a auty-mmedate s: a s (1 ) v s By specto, the expresso above s ot equal to the expresso Choce E. Soluto C Chapter 1, Skg Fud The terest

More information

The Prediction Error of Bornhuetter-Ferguson

The Prediction Error of Bornhuetter-Ferguson The Predcto Error of Borhuetter-Ferguso Thomas Mac Abstract: Together wth the Cha Ladder (CL method, the Borhuetter-Ferguso ( method s oe of the most popular clams reservg methods. Whereas a formula for

More information

Inferential Statistics and Probability a Holistic Approach. Inference Process. Inference Process. Chapter 8 Slides. Maurice Geraghty,

Inferential Statistics and Probability a Holistic Approach. Inference Process. Inference Process. Chapter 8 Slides. Maurice Geraghty, Iferetial Statistics ad Probability a Holistic Approach Chapter 8 Poit Estimatio ad Cofidece Itervals This Course Material by Maurice Geraghty is licesed uder a Creative Commos Attributio-ShareAlike 4.0

More information

Algorithm Analysis. x is a member of the set P x is not a member of the set P The null or empty set. Cardinality: the number of members

Algorithm Analysis. x is a member of the set P x is not a member of the set P The null or empty set. Cardinality: the number of members Algorthm Aalyss Mathematcal Prelmares: Sets ad Relatos: A set s a collecto of dstgushable members or elemets. The members are usually draw from some larger collecto called the base type. Each member of

More information

Probability Distributions. Statistics and Quantitative Analysis U4320. Probability Distributions(cont.) Probability

Probability Distributions. Statistics and Quantitative Analysis U4320. Probability Distributions(cont.) Probability Statstcs and Quanttatve Analss U430 Dstrbutons A. Dstrbutons: How do smple probablt tables relate to dstrbutons?. What s the of gettng a head? ( con toss) Prob. Segment 4: Dstrbutons, Unvarate & Bvarate

More information

Chapter 8: Estimation of Mean & Proportion. Introduction

Chapter 8: Estimation of Mean & Proportion. Introduction Chapter 8: Estimatio of Mea & Proportio 8.1 Estimatio, Poit Estimate, ad Iterval Estimate 8.2 Estimatio of a Populatio Mea: σ Kow 8.3 Estimatio of a Populatio Mea: σ Not Kow 8.4 Estimatio of a Populatio

More information

Lecture 1: Review and Exploratory Data Analysis (EDA)

Lecture 1: Review and Exploratory Data Analysis (EDA) Lecture 1: Review and Exploratory Data Analysis (EDA) Ani Manichaikul amanicha@jhsph.edu 16 April 2007 1 / 40 Course Information I Office hours For questions and help When? I ll announce this tomorrow

More information

Allocating Risk Dollars Back to Individual Cost Elements

Allocating Risk Dollars Back to Individual Cost Elements Allocatg Rsk Dollars Back to Idvdual Cost Elemets Stephe A. Book Chef Techcal Offcer MCR, LLC sbook@mcr.com (0) 60-0005 x 0th Aual DoD Cost Aalyss Symposum Wllamsburg VA -6 February 007 007 MCR, LLC Approved

More information

B = A x z

B = A x z 114 Block 3 Erdeky == Begi 6.3 ============================================================== 1 / 8 / 2008 1 Correspodig Areas uder a ormal curve ad the stadard ormal curve are equal. Below: Area B = Area

More information

Minimization of Value at Risk of Financial Assets Portfolio using Genetic Algorithms and Neural Networks

Minimization of Value at Risk of Financial Assets Portfolio using Genetic Algorithms and Neural Networks Joural of Appled Face & Bakg, vol. 6, o. 2, 2016, 39-52 ISSN: 1792-6580 (prt verso), 1792-6599 (ole) Scepress Ltd, 2016 Mmzato of Value at Rsk of Facal Assets Portfolo usg Geetc Algorthms ad Neural Networks

More information

1 Describing Distributions with numbers

1 Describing Distributions with numbers 1 Describing Distributions with numbers Only for quantitative variables!! 1.1 Describing the center of a data set The mean of a set of numerical observation is the familiar arithmetic average. To write

More information

point estimator a random variable (like P or X) whose values are used to estimate a population parameter

point estimator a random variable (like P or X) whose values are used to estimate a population parameter Estimatio We have oted that the pollig problem which attempts to estimate the proportio p of Successes i some populatio ad the measuremet problem which attempts to estimate the mea value µ of some quatity

More information

The Complexity of General Equilibrium

The Complexity of General Equilibrium Prof. Ja Bhattachara Eco --Sprg 200 Welfare Propertes of Market Outcomes Last tme, we covered equlbrum oe market partal equlbrum. We foud that uder perfect competto, the equlbrum prce ad quatt mamzed the

More information

Portfolio Optimization via Pair Copula-GARCH-EVT-CVaR Model

Portfolio Optimization via Pair Copula-GARCH-EVT-CVaR Model Avalable ole at www.scecedrect.com Systems Egeerg Proceda 2 (2011) 171 181 Portfolo Optmzato va Par Copula-GARCH-EVT-CVaR Model Lg Deg, Chaoqu Ma, Weyu Yag * Hua Uversty, Hua, Chagsha 410082, PR Cha Abstract

More information

FINANCIAL MATHEMATICS : GRADE 12

FINANCIAL MATHEMATICS : GRADE 12 FINANCIAL MATHEMATICS : GRADE 12 Topcs: 1 Smple Iterest/decay 2 Compoud Iterest/decay 3 Covertg betwee omal ad effectve 4 Autes 4.1 Future Value 4.2 Preset Value 5 Skg Fuds 6 Loa Repaymets: 6.1 Repaymets

More information

Quantitative Portfolio Theory & Performance Analysis

Quantitative Portfolio Theory & Performance Analysis 550.447 Quattatve Portfolo heory & Performace Aalyss Week February 11, 2013 Cocepts (fsh-up) Basc Elemets of Moder Portfolo heory Assgmet For Feb 11 (hs Week) ead: A&L, Chapter 2 ( Cocepts) ead: A&L, Chapter

More information

Measuring the degree to which probability weighting affects risk-taking. Behavior in financial decisions

Measuring the degree to which probability weighting affects risk-taking. Behavior in financial decisions Joural of Face ad Ivestmet Aalyss, vol., o.2, 202, -39 ISSN: 224-0988 (prt verso), 224-0996 (ole) Iteratoal Scetfc Press, 202 Measurg the degree to whch probablty weghtg affects rsk-takg Behavor facal

More information

Estimating Proportions with Confidence

Estimating Proportions with Confidence Aoucemets: Discussio today is review for midterm, o credit. You may atted more tha oe discussio sectio. Brig sheets of otes ad calculator to midterm. We will provide Scatro form. Homework: (Due Wed Chapter

More information

OCR Statistics 1 Working with data. Section 2: Measures of location

OCR Statistics 1 Working with data. Section 2: Measures of location OCR Statstcs 1 Workng wth data Secton 2: Measures of locaton Notes and Examples These notes have sub-sectons on: The medan Estmatng the medan from grouped data The mean Estmatng the mean from grouped data

More information

Quantitative Analysis

Quantitative Analysis EduPristie FRM I \ Quatitative Aalysis EduPristie www.edupristie.com Momets distributio Samplig Testig Correlatio & Regressio Estimatio Simulatio Modellig EduPristie FRM I \ Quatitative Aalysis 2 Momets

More information

Stat 101 Exam 1 - Embers Important Formulas and Concepts 1

Stat 101 Exam 1 - Embers Important Formulas and Concepts 1 1 Chapter 1 1.1 Definitions Stat 101 Exam 1 - Embers Important Formulas and Concepts 1 1. Data Any collection of numbers, characters, images, or other items that provide information about something. 2.

More information