1 Business 90: Business Statistics Professor David Mease Sec 03, T R 7:30-8:45AM BBC 204 Lecture 14 = Review for Midterm Exam Agenda: 1) Go over Homework.

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1 Business 90: Business Statistics Professor David Mease Sec 03, T R 7:30-8:45AM BBC 204 Lecture 14 = Review for Midterm Exam Agenda: 1) Go over Homework 5 2) More practice with Chapter BP (ICE #57) 3) Reminder about Midterm Exam (Tuesday) 4) Take Quiz over Homework 5 5) Do Exam Review Handout 6) Go over Solutions

2 1) Read chapter entitled “Basic Probability”. 2) In that chapter do problems 4, 8, 12, 14, 17, 20, 23, 31 and 34. Homework 5 - Due Thursday 3/11

3 Textbook Question 31 From Homework 5: On the basis of past viewing records, an advertising executive has determined that during prime time, husbands are watching television 60% of the time. It has also been determined that when the husband is watching television, 40% of the time the wife is also watching. When the husband is not watching television, 30% of the time the wife is watching television. Find the probability that a) if the wife is watching television, the husband is also watching television. b) the wife is watching television in prime time. (Hint: do part b first)

4 In class exercise #57: The probability that a person has a certain disease is A test is available to determine whether a person has the disease. If the person does actually have the disease, the test will indicate so with probability If the person does not have the disease, the test will still indicate the person has the disease with probability Suppose the test says you have the disease. What is the probability that you actually do? (*NOTE: this is like 31 and 34 on the homework*)

5 Midterm Exam: Midterm Exam on Tuesday, March 16 You will NOT be able to use Excel or any notes for the exam, so make sure you know how to do everything by hand (with the help of a calculator). Be sure to bring your calculator. The exam will cover chapters IADC, PDITAC (plus least squares regression from p ), NDM and BP. Worth 100 points Seats will be assigned when you enter the room.

6 Mutually Exclusive: P(not A) = 1- P(A) Complement Rule: P(A and B) = 0 P(A or B) = P(A) + P(B) - P(A and B) General Addition Rule: Conditional Probability: Statistically Independent: General Multiplication Rule: PROBABILITY RULES: Q 1 at (n+1)/4 Q 2 at (n+1)/2 (the median) Q 3 at 3(n+1)/4 IQR= Q 3 - Q 1 Systematic sample: k=N/n Empirical Rule: 68% within 1 standard deviation 95% within 2 standard deviations 99.7% within 3 standard deviations Midterm Exam Formula Sheet