week 5 notes_scm
week 5 notes_scm 200
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This 1 page Class Notes was uploaded by Evangelos Katradis on Tuesday March 1, 2016. The Class Notes belongs to 200 at Pennsylvania State University taught by Marilyn Blanco in Fall. Since its upload, it has received 16 views. For similar materials see Supply Chain Management (business statistics) in Business at Pennsylvania State University.
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Date Created: 03/01/16
week 5 notes scm Topic 8 Normal Distribution Characteristics: • bell shaped • unimodal • symetric • mean, median, mode • parameters are mean (mu) and st. dev (sigma) • 2 tails extend indefinitely and never touch the xaxis Standard Normal Distribution: mean = 0 st. dev = 1 z= (X mu)/ sigma z= number of st. dev. away from the mean T/F The standard normal distribution has a mean of 1 and a st. dev. of 0_______F T/F If X is normal random variable with a mean of 10 and a standard deviation of 1/2, then X=14 is 8 the st. dev. away from the mean_______T **Never put probabilities on axis with Z** Topic 9 Sampling Distribution for the Sample Mean Point and Interval Estimates: • a point estimate is a single # that is used to estimate an unknown population parameter • an interval estimate (confidence interval) is a range of numbers thought to contain an unknown parameter value Sampling Distribution depends upon 1. Sample Size (n) 2. statistic being computed (mean, median, range, etc.)