QMS102/204

Binomial/PoissonCalculatorTricks 9 TheCasiocalculatordoesnotcomputequestionsthatcontainagreaterthanorgreater thanequal 9 Itdoescomputelessthanandequalto 9 Therefore,whengivenaquestiondealingwithgreaterthan,youmustconvertitintoa lessthanequaltosign Thefollowingexampleselaborateontheabove: Question Notation Conversionfor CalculatorX: Statement Calculator Greaterthan P(x>3) 1P(x<3) 3 Greaterthanequalto P(x>3) 1P(x<2) 2 Lessthan P(x<3) P(x<2) 2 Lessthanequalto P(x<3) None 3 CentralLimitTheorem 9 Thesetypesofquestionsmaylooklikeaquestioninvolvingnormaldistribution.Infactit isanormaldistribution;howeveryoumustfirstconvertthestandarddeviationofthe populationintothestandarddeviationofthesample. 9 Thetrickisthataquestionwillgiveyousampledatathatisexpressedonaperunitbasis andthenaskfortheentiresum 9 Example:theweightofminiboxesofraisinshasameanof14.1gramsandastandard deviationof1.4grams.Whatistheprobabilitythatacaseof50boxeswillweighmore than725grams? 9 Intheaboveexample14.1gramsittheweightofONEminibox!Whereasthequestion isaskingwhatistheprobabilityweightfor50boxesbeyond725grams? 9 Pleaserefertothetextbookforthenotation(formula) 9 Theaboveillustratesthatthemeanofthepopulationisequaltothemeanofthe sample.HoweverthestandarddeviationofthepopulationisNOTequaltothesample deviation,thereforeyoumustusetheformula

GeneralTipsandTricks(READCAREFULLY) 9 Understandyourprofessor;knowwhathe/sherequiresofyou.Forinstance,somehave preferencesforroundingrulesorotherrulesthatcontradictthetextbook. Understandingyourprofessorwillallowyoutomaximizeyourmarks. 9 Knowhowtousethecalculator,ifyouhaveanyquestionsconsultthebookoryour professorordropintothestudentresourcecentre 9 Remembertousetemplatesoutlinedinthetextbookforbinomial,normal,inverse normaletc.astheseareworthsubstantialmarksonanyexamination! 9 QuestionsinvolvingspaceortimewouldnormallybetreatedasaPoissonquestion 9 Somestudentsgetconfusedonweightedmeanquestions.Remembertoreadthe requiredbeforeenteringnumbersonyourcalculator.Anexampleisasfollows. Example Demand Probability 8 .3 9 .3 10 .1 11 .3
Foreachlevelofdemand,therevenueis$10andthecostis$4.Calculateoverallexpectedprofit. Intheaboveexample,somestudentswillenterdemandinlistoneandtheprobabilitiesinlist2.Thisis incorrect,thequestionisaskingyouexpectedprofit,thereforeyourlist1shouldbetheprofitforeach levelofdemand.Simplymultiplytheprofit(104)=6byeachlevelofdemandtogetyourlist1. ********Remembertochangeyourxlistandfrequencydistributionssettingsonyourcalculators accordingly******** FormulaReview CoefficientofVariation(CV)=S/MeanoftheSample(Refertotext) 9 Usuallyyouaregivenwithtwosetsofdataandasktocalculatetherelativevariability.Ifthe questionasksforthelowestvariabilitythensimplychoosethelowestone.