Exam Preparation Flashcards
1
Q
Median
A
- Put the numbers in order
- (n +1)/2
- find the number in that position
2
Q
Mode
A
- most frequent observation
- can be multi-modal or bi-modal
3
Q
Range
A
Xmax - Xmin
4
Q
MAD
A
Tip: create table
5
Q
Variance
A
6
Q
Standard Deviation
A
(if it is a sample = n-1)
7
Q
Coefficent of Variation
A
(Standard Deviation x 100)/Mean
8
Q
When will the mean and the median be equal?
A
If the data are symmetrically distributed
9
Q
Grouping Data
A
- Find smallest and biggest number
- Decide lower and upper class limit
- Find class width: (largest-smallest)/log2(n)
- Number of classes: (upper class-ower class)/width
- Create a table: class | class interval | lower boundary | upper boundary |
10
Q
Proprieties of Probability
A
- The probs of any event occurring: between 0 and 1
- If an even has a prob of 0 –> it will never occur
- If an event has a prob of 1 –> it will certainly occur
- The sum of all probs of all possible outcomes occurring = 1
11
Q
Types of Event
A
- Indipendent
- Mutually Exclusive
- Dependent or Conditional
12
Q
Simple Index
A
(Pn / Po ) x 100
13
Q
Compound Growth Inverse Formulas
A
14
Q
Compound for Depreciation
A
Ft = F0 (1-r)t
15
Q
General Repayment Loan Formula
A
A =L/Btr
L = A*Btr
(use table B, for t and r )
