108SAM Quantitative Methods for Business by Maria Correia https://padlet.com/ac4384/mcajfe07pvgd en-us 2020-02-26 22:27:42 UTC 2023-04-19 10:53:01 UTC hello@padlet.com Normal Distribution ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/451088757 For business, many continuous variables used in decision making have distributions that closely resemble the normal distribution. The normal distribution can be used to estimate values for such variables, specifically, the probability that values occur within a specific range or interval.]]> 2020-02-26 22:30:50 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/451088757 Video 'Introduce the normal distribution' (3:50m) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/451090699 2020-02-26 22:37:24 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/451090699 Chapter 6: The Normal Distribution ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/451092384 (Berenson et al., 2020, pp. 446-455)]]> 2020-02-26 22:43:14 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/451092384 Video 'The normal distribution is everywhere' (2:53m) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/451096510 2020-02-26 22:56:15 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/451096510 Please, add your posts!... anywhere @ this wall ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/451097643 questions, tips, etc.]]> 2020-02-26 22:59:42 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/451097643 Core book "Statistics for Business and Economics: Global Edition" ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/451100213 "The normal distribution closely approximates the probability distributions of a wide range of random variables. 
  • For example, the dimensions of parts and the weights of food packages often follow a normal distribution. This leads to quality-control applications. 
  • Total sales or production often follows a normal distribution, which leads us to a large family of applications in marketing and in production management. 
  • The patterns of stock and bond prices are often modeled using the normal distribution in large computer-based financial trading models.” (Newbold et al., p.206)

]]> 2020-02-26 23:09:43 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/451100213 z-score ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/451106362 A z-score is a standardized value that indicates the number of standard deviations a value is from the mean. A z-score greater than zero indicates that the value is greater than the mean; a z-score less than zero indicates that the value is less than the mean; and a z-score of zero indicates that the value is equal to the mean (Newbold et al., p.77)]]> 2020-02-26 23:26:40 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/451106362 Z score formula ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/451716191 The standardized variable, Z, always has mean μ=0 and standard deviation σ=1 (Berenson et.al, 2020, p. 448)]]> 2020-02-27 22:28:40 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/451716191 Video "Normal distribution" (2:21m) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/451734389 (LinkedIn Learning, 2020)]]> 2020-02-27 23:27:30 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/451734389 Video "The Normal Distribution" (2:45m) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/451736704 (365 Data Science, 2017)]]> 2020-02-27 23:36:20 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/451736704 Video "Estimating costs and time" (7:41m) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/451865640 (LinkedIn Learning, 2014)]]> 2020-02-28 09:00:11 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/451865640 TYPES OF SAMPLING ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/456227678 NON-PROBABILITY Samples
  • Judgment sample
  • Convenience sample (or opportunity sample)
PROBABILITY Samples
  • Simple Random sample - In a simple random sample, every item from a frame has the same chance of selection as every other item, and every sample of a fixed size has the same chance of selection as every other sample of that size. 
  • Systematic sample - In a systematic sample, you partition the N items in the frame into n groups of k items.
  • Stratified Random sample - In a stratified sample, you first subdivide the N items in the frame into separate subpopulations, or strata. A stratum is defined by some common characteristic, such as gender or year in school. (HOMOGENEOUS)
  • Cluster sample - In a cluster sample, you divide the N items in the frame into clusters that contain several items. Clusters are often naturally occurring groups, such as counties, election districts, city blocks, households, or sales territories. (HETEROGENEOUS)
]]> 2020-03-07 13:54:41 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/456227678 "Understanding different sampling methods" (McCombes, 2019) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/456228450 2020-03-07 13:59:49 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/456228450 Types of probability sample ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/456228853 (McCombes, 2019)]]> 2020-03-07 14:02:12 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/456228853 Video "Hypothesis testing basics" (6:00) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/456231395 (Chua, 2017)]]> 2020-03-07 14:17:08 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/456231395 Video "Sampling in data collection" (4:50) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/456231901 (Chua, 2017)]]> 2020-03-07 14:20:05 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/456231901 Key concepts - Sampling ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/456235391 POPULATION - Group of people, communities, or organizations studied. Includes all possible objects of study.

SAMPLE - Part of the population. Reduced down to manageable size. Ideally, we would want to draw a sample that is representative of the population in terms of certain key characteristics (for example, gender and age).

SAMPLING FRAME - List of people/organizations etc. in the population who can be chosen for participation in the study. Most sampling frames do not include all people in the population (example – phone book). i.e. The FRAME is a complete or partial listing of the items that make up the population from which the sample will be selected.]]> 2020-03-07 14:39:21 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/456235391 Video "Alternative to random samples" (4:42) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/456261634 (Davila, 2016)]]> 2020-03-07 16:37:08 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/456261634 What is a Critical Value? (7:25) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/462413325 α indicates the level of significance]]> 2020-03-16 22:16:39 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/462413325 What is a p-value? (5:43) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/462416469 Is the measure of the strength of evidence against the null hypothesis.
P-value is called the observed level of significance.
The p-value is the smallest value of α for which H0 can be rejected.
The smaller the P-value the stronger the evidence against H0
]]> 2020-03-16 22:21:31 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/462416469 Finding Critical Path (6:56) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/467044713 by Joshua Emmanuel ]]> 2020-03-19 21:42:57 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/467044713 How to draw a CPM network diagram (4:14) ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/467046034 by Engineer4Free ]]> 2020-03-19 21:44:27 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/467046034 ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/487448421 2020-04-01 18:41:04 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/487448421 ac4384 https://padlet.com/ac4384/mcajfe07pvgd/wish/487453543 2020-04-01 18:43:37 UTC https://padlet.com/ac4384/mcajfe07pvgd/wish/487453543