PreparED Study Materials

STAT 285: Statistics for Business

School: Rutgers University

Number of Notes and Study Guides Available: 15

Notes

Study Guides

Videos

Comparing Plastic Gear Strengths: Supplier 1 vs. Supplier 2 Analysis
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This video presents a comparison between two suppliers of plastic gears in terms of their mean impact strength. Using statistical tools like the two-sample t-test and confidence intervals, we evaluate which supplier offers stronger gears.

Two-Sample T-Test: Analyzing Control vs. Supplemented Groups
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Explore the steps to conduct a two-sample t-test using a control and supplemented group. Through hypothesis testing, standard deviation, and P-value interpretation, we analyze the means of both groups to determine statistical differences.

Traffic Light Wait Time: Using Probability to Decode Delays
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Explore the mathematical intricacies behind calculating the waiting time for a motorist at traffic lights. Learn about normal random variables, conditional probabilities, and the challenges in determining specific waiting durations.

Car Theft Rates: Does Your Car Type Influence Risk?
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Explore the relationship between specific car types and their theft rates. This video assesses correlations between car models like the Honda Accord, Toyota Camry, and others, emphasizing the difference between correlation and causation.

Poisson Analysis: Asthma ED Visits in Seattle
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Unpack a Seattle-based study on Emergency Department asthma visits using the Poisson distribution. Explore the probability of visit frequencies and derive insights on healthcare patterns. Conclusions provide a statistical overview of asthma-related ED attendance.

Comparing Ages: Slot Machine vs. Roulette Players
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Examine the mean ages between two distinct groups: slot machine players and roulette enthusiasts. Utilizing the independent sample t-test, evaluate if there's a significant age difference between the two groups. The findings offer a nuanced understanding of player demographics in gaming environments.

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