LCCI International Qualifications Level 2 Certificate in Business Statistics Syllabus Effective from 1st October 2001 For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk 1 1 INTRODUCTION EDI is a leading international awarding body that was formed through the merger of the London Chamber of Commerce and Industry Examinations Board (LCCI) and GOAL‚ a leading online assessment provider. EDI now delivers LCCI International qualifications
Premium Standard deviation Linear regression Regression analysis
boundary). When question says “give a reason to justify the use of a histogram to represent these data” The answer is “Data is continuous”. Box-Whisker Diagrams: Main features & uses of Box Plots: Indicates max / median / min / upper quartile/ lower quartile. Indicates outliers. Illustrates skewness Allows comparisons Indicates range / Interquartile range / spread Mathematical Modelling in Statistics: A mathematical model is a simplification of a real world situation
Free Median Standard deviation Probability theory
class after modal class h= Class width The inter-quartile range X_(25=) 10+((20-8) )/((27-8) ) × 5 =10+12/19 ×5 =13.16 X_(50=) 15+((40-27) )/((49-27) )×5 =15+(13 )/(22 )×5 =17.95 X_(75=) 20+((60-49) )/((62-49) )×5 =20+((11) )/((13) )×5 =24.23 Interquartile range = X_(75 ) - X_25= 24.23-13.16=11.07 Lower quartile is define as X_(25 )and upper quartileX_75. The standard deviation S= √( (〖(MI)〗^2×f)/(n-1)-x^(-2)=√(34400/79)) -〖19〗^2
Premium Median Qualitative research Arithmetic mean
95% SCT is the time during which 95% of the requests should be taken care of. The company assumes that the variability of the processing time has the normal distribution‚ which has the characteristic that with a mean of processing time (µ)‚ and a deviation (σ)‚ 95% of the requests should be finished within (µ+2σ) approximately. In this way the variability has been considered in the calculation of 95% SCT‚ so as in the TAT. But this method of calculating variability is not a good metric to measure.
Premium Standard deviation Insurance Arithmetic mean
Activity 17.1(1 only) In the first part of this activity‚ you will generate some data that should have an approximately normal (or bell-shaped) distribution. In the second part‚ you will use the definition of standard deviation and compare the standard deviations for two different data sets. 1. Work with a partner to generate the following data. a. Toss 10 coins and record the number of heads you obtained. 5 b. Repeat this 24 more times until you have a list of 25 numbers
Premium Standard deviation Normal distribution
jmp) Submitted by: Garima Agrawal (Section D) (Student name or group name) Group Member Name | PG ID | Garima Agrawal | 61410506 | Question1: The data for home values has a considerable wide range (429578) as compared to the inter-quartile range (93522). This means the data has a huge spread and the same can be verified from coefficient of variation which is even more than 41%. Besides‚ as can be seen from graphical plot and the positive skewness (0.87) measure‚ the data is skewed
Free Median Standard deviation
* Categorical variable: the category with the highest frequency * Numerical variable: location of a major peak of the distribution * Mean = center of mass = the balance point * Define first quartile to be the median of the observations below the median * Define third quartile to be the median of the observations above the median * The interquartile range IQR is Q3 - Q1 * * Coefficient of Variation: defined as the ratio of SD to the mean‚ has no units‚ usually is
Premium Standard deviation Normal distribution Probability theory
FINA 5210 Problem Set 1 (Group 305) Problem 1 (a) WpC=[E(rp)-rf] ÷Aσp2 =6%÷2.5×(20%)2 =60% WfC=100% - 60% = 40% (b) Expected return of Complete portfolio is: rCEc= WpC×E(rp)+ WfC×rf =60%×10% + 40%×4% =7.6% The standard deviation of Complete portfolio is: σc = WpC × σp = 60% × 20% = 12% Certainty-equivalent rate of return for investing in C: rc CE= Uc = rCEc- 1/2Aσc2 = 7.6% - 0.5×2.5×12%2 = 5.8% Certainty-equivalent rate of return for investing in P: rp CE= Up= rCEp- 1/2Aσp2
Premium Standard deviation Investment Normal distribution
5.23 Let x be a normally distributed random variable having mean = 30 and standard deviation . Find the z value for each of the following observed values of x: In each case‚ explain what the s value tells us about how the observed value of x compares to the mean 5.29 Weekly demand at a grocery store for a brand of breakfast cereal is normally distributed with a mean of 800 boxes and a standard deviation of 75 boxes‚ a. What is the .probability that weekly demand is (1) 959 boxes or less? (2) More
Premium Normal distribution Median Probability theory
MBA 676 Final Practice Problems Comments: Some of these problems were done as homework and some I solved in class. I would like you to review them. I will give you similar problems. I may also assign you some problems from Project scheduling after we cover it tomorrow. 1. Keith Shoe Stores carries a basic black dress shoe for men that sells at an approximate constant rate of 500 pairs of shoes every 3 months. Keith’s current buying policy is to order 500 pairs each time an order is placed
Premium Normal distribution Standard deviation Inventory