STAT 285: Statistics for Business

Discover the intricacies of determining the cause of electronic system failures, either minor or major defects, using statistical distributions. Learn how to minimize the expected cost and make informed decisions based on soundings and loss tables

Understand the process of determining the 94.26% confidence interval for the median weight of "80-pound" bags of water softener pellets using a standard normal table and specified formulas. Additionally, explore the steps to deduce a confidence level of 90.47%.

Discover the principles of permutations with 6 distinct objects. Learn the ins and outs of factorial calculation and its application to combinatorics. Grasp the method to find the number of unique arrangements for any set of items.

Discover the art of calculating probabilities in football. Using three players' success rates, we determine the odds of different goal outcomes. Understand independent and mutually exclusive events in a real-world scenario.

Explore Anderson's 1999 study on how attention load impacts reaction times. Through hands-on analysis, understand the computation of mean, median, and mode from the provided data. Highlighting the significance of the median in capturing the central tendency amidst potential outliers.

Explore a statistical approach to analyze the claim about average tornado lengths. Understand the nuances of hypothesis testing, from setting null and alternative hypotheses to interpreting P-values. Witness a comprehensive breakdown of the evidence from a sample of 500 tornadoes.