Questions

Question 1

Probability

Answer 1

0<=P(event)<=1

Question 2

Objective Approach

Answer 2

no. occurences/ total trials or outcomes

Question 3

Adding Mutually Exclusive Events

Answer 3

P(A) + P(B)

Question 4

Adding Not Mutually Exclusive Events

Answer 4

P(A) + P(B) - P(A and B)

Question 5

Statistically Independent : Joint

Answer 5

P(A) x P(B)

Question 6

Statistically dependent : Joint

Answer 6

P(A\B) x P(B)

Question 7

Statistically Independent : Conditional

Answer 7

P(A\B) = P(A)

Question 8

Statistically dependent : Conditional

Answer 8

P(A\B) = P(AB) / P(B)

Question 9

Normal distrib approx. probabilities

Answer 9

68(.268) /95(.45)/ 99.7(3)

Question 10

Bayes Theorem

Answer 10

(P(B\A)P(A) / (P(B\A)P(A) + P(B/A’)P(A’)

Question 11

Mean/ Expected Value

Answer 11

E xiP(xi)

Question 12

Standard Variance

Answer 12

(E(ci-mu)^2)/n-1

Question 13

Variance

Answer 13

E [Xi-E(x)^2} P(x)

Question 14

Binomial Distribution (BD): Successes

Answer 14

(n!)/(r!(n-r)!) *P^r q^(n-r)

Question 15

BD: expected value /mean

Answer 15

np

Question 16

BD: Variance

Answer 16

npq

Question 17

Normal distrib f(x)

Answer 17

check paper

Question 18

z score

Answer 18

(x-mu)/standard deviation

Question 19

Coercion of realism

Answer 19

WA=COR(Max. Row) + (1-CoR)(Min.Row) ===Highest Value

Question 20

Equally Likely

Answer 20

(Max+Min)/no.

Question 21

Minimax Regret

Answer 21

Best Payoff-Each payoff ===Minimum Value

Question 22

Expected Monetary Value

Answer 22

(payoff 1t state)(Psecond)+(Payoff 2nd)(Psecon)+…n

Question 23

Expected Value of Perfect Information

Answer 23

EVwPI-Max. Emv

Question 24

EVwPI

Answer 24

(Max each times probs)

Question 25

EOL

Answer 25

=Max Emv
EVPI=Min EOL
Minimax Regret x EmV

Question 26

Sensitivity analysis

Answer 26

fav(p)-Unfav(1-p) = Fav(p) -Unfav+unfave(p)

Question 27

Expected Value of sample info

Answer 27

(Ev with sample infor+cost)- Ev wout SI

eV w/ Si assum no cost)(Ev best decision wout SI

Question 28

Determinants 2x2

Answer 28

detA= A11(A22) -A21(A12)

Question 29

Determinants 3x3

Answer 29

A11\C11-A12\C12+A13\C13\

Question 30

Cofactor

Answer 30

Cij = ((-1)^(i+j))(Mij or det A) check papaer

Question 31

Inverse

Answer 31

check paper

Question 32

Inverse matrix

Answer 32

1/det* inversed matrix

Question 33

Exponential Smoothing

Answer 33

Fv(t+1) = Fvt + constant(Yvt-Fvt)

Question 34

Trend Projection (3 formulas)

Answer 34

Y=b1+b2X
B1 =xy -((Ex)(Ey)/n) / E(x^2)-(((Ex)^2)/n))
B2 = yu- B1xu

Question 35

Mean absolute deviation

Answer 35

Total Error/n