MBA 510 Review for Exam 1 February 8 Spring 2012 Dr. Tonya Balan 4/13/2019

Key Concepts Chapter 1 Chapter 2 Chapter 3 Population, Sample Graphical Displays Histogram Bar Chart Chapter 3 Measures of Central Tendency Mean, Median Measures of Variation Range, Variance, Standard Deviation Measures of Position Percentile, Quartile, Box Plots Bivariate Data Correlation r, Scatterplot 4/13/2019

Key Concepts Chapter 4 Chapter 5 Probability Concepts Definition, Contingency Table Conditional Probability Joint Probability Multiplicative Rule, Independence Probability of A or B Additive Rule, Mutually Exclusive Chapter 5 Discrete Probability Distributions Binomial Probabilities Mean and variance of a binomial random variable Table A.1 4/13/2019

Example Consider the following data on the cost of eating lunch at the SAS cafeteria: Would you expect the mean and the median to be about the same? Why or why not? 3.50 2.75 4.00 9.50 8.75 2.40 3.75 4.25 4/13/2019

Example Suppose that a data set has the following set of summary statistics. Label the boxplot with the appropriate values. Does the distribution appear to have any outliers? The middle 50% of the data are contained within what range? Min: 1 Q1=3 Q2=8.5 Q3=12.5 Max=42 4/13/2019

Example Does there appear to be a relationship between these two variables? The correlation coefficient, r, for these data is 0.02. Why is the value not closer to 1? x x x x x x xx x x x x Xx x x x 4/13/2019

Example At a meeting of a college student government council, 50 students are present: 20 freshmen, 15 sophomores, 10 juniors, and 5 seniors. One student is to be randomly selected to deliver a petition to the school administration. What’s the probability that the student selected is a senior? What’s the probability that the student selected is either a freshman or a sophomore? 4/13/2019

Example At a large bank, 6% of the employees are computer programmers, 50% of the employees are female, and 2% of the employees are female computer programmers. If a female employee is selected at random, what’s the probability that the employee is a computer programmer? Given that an employee is a computer programmer, what is the probability that the employee is female? 4/13/2019

Example Many infants with an enlarged thymus were treated with radiation to shrink the thymus. About 25% of those treated developed tumors and about 6% of those treated developed cancerous tumors. Suppose that during a medical checkup, one of those treated is found to have a thyroid tumor. What is the probability that it is cancerous? 4/13/2019

Example A college statistics class has 20 students. The ages of these students are as follows: one is 16, four are 18, nine are 19, three are 20, two are 21, and one is 30. Let x-age of any student (randomly selected). Find the probability distribution for X. Find the mean of the distribution. 4/13/2019

Example Thirty percent of the voters in a large voting district are veterans. If 10 voters are randomly selected, find the probability that fewer than 5 will be veterans. 4/13/2019