Summary
Summary Business Statistics Cheat Sheet Exam
- Course
- Institution
This is my own cheat sheet that could be used during the Business Statistics exam of the Master Digital Driven Business.
[Show more]
Seller
Follow
Sherwink
Content preview
Business Statistics - Cheat SheetExam 8th October 2021 - Online
Exam stuff
● IQ question
● Probability → P( … ≤ X ≤ …) or P(X≤5)
● PMF, compute the expectation
● Confidence Interval, what does it mean
● Sample mean, sigma, what happens when increase/decrease sigma
● Hypothesis questions
● Python code, answer what the solution could be
, Probability & Random Values
Sample space (Ω) = the set of all possible outcomes
Example Tossing a coin → Ω = {H, T}
Events (A) = subset of Ω.
Example Only heads → A = {H}
𝑛𝑢𝑚𝑏𝑒𝑟𝑠 𝑜𝑓 𝐴
Formula Probability of an A = P = 𝑡𝑜𝑡𝑎𝑙 𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 Ω
● P(Ω)= 1, because Ω is a set of all possible outcomes
● P is always between 0 and 1
● If A ⊂ Ω → A is a subset of Ω
Random Value = a random number from one of the outcomes of a
random experiment.
Discrete RV = that takes only discrete, finite or at most
countably infinite number of values
● These values are counted
● Number of students attending in a class in a given day
● Number of customers in a store in a given day
● Number of clicks per hour
Continuous RV = can take on a continuum of values rather than
finite or countably finite numbers. They can take values in the whole
real number line or within a particular interval.
● These values are measured
● Height and weight
● Liters of milk produced by a cow
● Daily temperature
● Always estimate the P that it lies between two values
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Sherwink. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R108,46. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now