Modelling 2 Week 3: Discrete Random Variables Stephen Bush Department of Mathematical Sciences MM2: Statistics - Week 3 - 1 Random Variables • Reference: Devore § 3.1 – 3.5 • Definitions: • An experiment is any process of obtaining one outcome where the outcome is uncertain. • A random variable is a numerical variable whose value can change from one replicate of the experiment to another. • Sample means and sample standard deviations are random variables • They are different from sample
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validity of other theories; new hypotheses * does not accurately determine cause-effect; inaccurate generalization; researcher bias * RESEARCHER BIAS: lack of objectivity in gathering & interpreting data * NATURALISTIC OBSERVATION: observing behaviour as it occurs in natural setting; no influence * rich description of behaviour * does not permit clear causal conclusions; researcher bias; influence of researcher’s presence * HABITUATION:
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To what extent does executive pay influence company performance? There has been widespread controversy in recent years about the amount of compensation CEO’s receive. CEO’s financial compensation packages were largely structured to incentivize risk taking in order to increase shareholder wealth (“Restraints on Executive Pay”‚ 2009). Yet‚ the 2008 financial crisis was mostly characterized by declining levels of company performance largely due to the increase of risk afforded to CEO’s by the attractiveness
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Ethical Thinking to What Money Can’t Buy Introduction Micheal J. Sandel‚ an American political philosopher and a professor at Harvard University‚ is famous for his course “Justice”. This course is available online‚ for which I had the opportunity to know Sandel and study his theory when I was studying undergraduate major. When I found “What Money Can’t Buy” written by him in the book list for the paper materials‚ I decided to write something about this topic without hesitate. Obviously‚ from
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to the north; why not here? It is the influence of the atmosphere of the continent.” - From The Treasure of the Sierra Madre‚ by B. Traven (85) Economics‚ the value of hard work‚ and the proper role of government are subjects that have been debated for centuries. These topics seem to rise to the forefront (as they naturally would) when times are not good…and in America in the 1930’s‚ things were not good at all. Putting the 1930’s focus on economics and the role of big government into perspective
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To what extent was the Tsarist economy transformed between 1881 – 1905? The torpor of the Russian economy compared to other European Great Powers was a prominent predicament to both Alexander III and Nicholas II. In order to sustain Russia’s Great Power status‚ both Tsars engaged in a policy of economic renewal between the years 1881 and 1095. Despite success in managing to proliferate economic growth rates‚ the attempts of economic reform between 1881 and 1905 weren’t sufficient in order to make
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MONEY AND BANKING CONTENTS What is MONEY? 3 Characteristics of money 3 Measurements of money 4 Money and the economy 6 Relationship between Prices and Inflation 6 Why Money Supply Matters 7 Banking 8 General History 8 History in United States 8 Banking basics 9 Other Financial Institutions 9 International Banks 10 Structure of banking industry in U.S. 10 Interest Rates 11 Banking Business 11 Liquidity management by banks 11 Multiple Deposit Creation 14 Banking services 16
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Money and Power: America and Europe in the 20th Century The international power of the United States in the twentieth century has been grounded in its economic strength. In 1900‚ even before the US had much of an army‚ it was perceived as a power and a future great power. By 1920 it was the supreme financial power in the world‚ having displaced Great Britain during the First World War. By 1945 it was virtually the only financial power‚ most others having been devastated by the Second World War
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is a dynamic process consisting of various elements and activities. These activities are different from operative functions like marketing‚ finance‚ purchase etc. Rather these activities are common to each and every manger irrespective of his level of status. Different experts have classified functions of management. According to George & Jerry‚ “There are four fundamental functions of management i.e. planning‚ organizing‚ actuating and controlling”. According to Henry Fayol‚ “To manage is to forecast
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Planned Economy: "The social good" In a planned economy‚ the factors of production are owned and managed by the government. Thus the Government decides what to produce‚ how much to produce and for whom to produce. Features: • All resources are owned and managed by the government • No consumer OR producer choice • The market forces can’t set the price for goods or services • Profit is not the main objective‚ the government aims to provide services and goods to everybody • Government decides
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