Statistical Analysis for Business Decisions |
Common terms and phrases
advertising analysis ANOVA approximation assume assumptions average b₁ basic Bernoulli Bernoulli trials bility binomial distribution Chapter choose confidence interval consider construct corresponding decision rule DEFINITION degrees of freedom denotes density function determine effect Equation error estimate event EVPI exam expected value formula given hobbit hypergeometric hypotheses hypothesis set independent indicates least level of measurement linear M₁ machine mean median method n₂ negative exponential normal distribution number of defectives observations obtain opportunity loss outcomes P₁ parameters payoff table perfect information Poisson Poisson distribution population pr(A pr(s pr(X prediction predictors proba probability distribution probability function problem procedure production random sample randomly selected Refer to Exercise regression reject represents sample space shipment SOLUTION SSTO standard deviation standard normal statistics tion total number variance x₁ μο Σ Σ