The Practice of Statistics for Business and Economics
Summary of chapters 4-8, 10 & 11 from The Practice of Statistics for Business Economics by Alwan, Craig & McCabe. Covers all material needed for the final exam of the course Statistics for E&BE in the programme Economics & Business Economics at the University of Groningen.
Statistics for E&BE
(University of Groningen)
Summary 2022-2023
Stuvia: marcellaschrijver
Ch 4. Probability: The Study of Randomness ........................................................................................ 2
Ch 5. Random Variables and Probability Distributions ......................................................................... 4
Ch 6. Sampling Distributions .................................................................................................................. 8
Ch 7. Introduction to Inference.............................................................................................................. 9
Ch 8. Inference for the Mean of a Population ..................................................................................... 11
Ch 10. Inference for Proportions ......................................................................................................... 14
Ch 11. Inference for Categorical Data .................................................................................................. 15
,Ch 4. Probability: The Study of Randomness
Randomness
Uncertain individual outcomes regularly distributed in a large number of repetitions
Probability
Proportion of times that an outcome occurs in many repeated trials
𝑃(∅) = 0
0 ≤ 𝑃(𝐴) ≤ 1
𝑃(𝑆) = 1
𝑃(𝐴𝑐 ) = 1 − 𝑃(𝐴)
Equally likely outcomes
|𝐴| number of outcomes in 𝐴
𝑃(𝐴) = |𝑆|
= number of outcomes in 𝑆
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