Lecture Notes for BIT 2405 - Quantitative Methods at Virginia Tech (VT)

Notes Information

Material Type:Study Guide
Class:BIT 2405 - Quantitative Methods
Subject:Business Information Technology
University:Virginia Polytechnic Institute And State University
Term:Fall 2008
  • Ratio Scale
  • Independent Events
  • The Independent
  • Independent
  • Exclusive Or
  • Probability Sample
  • Probability Function
  • Total Number
  • No Correlation
  • Experiments
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BIT2405 Test 1  Most Frequently Missed Questions  Page 1 of 5    Questions 3, 4, & 5  The Election Poll  Forty percent of all registered voters in a national election are female. A random sample of 5 voters is  selected.  The first thing to recognize: This is a multi-step experiment that is a discrete binomial experiment.   The experiment consists of five random  draws of voters. Since they are random,  we can treat them as identical and  independent.   1. The experiment consists of a sequence of n identical trials. 2. Two outcomes, success and failure, are possible on each trial. There are two possible outcomes for  each trial-the voter is female or male.   3. The probability of a success, denoted by p, does not change from trial to trial. And the probability of "drawing" a  female doesn't change from trial to trial. 4. The trials are independent.   These are IMPORTANT for you to Understand and to Remember!   Our interest is in the number of successes occurring in the n trials....

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