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Statistics: Probability Distributions

Audience

Business managers, business analysts, and researchers who need to be familiar with methods of data collection and analysis

Prerequisites

Basic math and algebra

Course Aim

To introduce the learner to probability, random variables, and binomial and normal distribution

Learning Objectives

Explain the language of probability. Define statistical inference. Identify population, samples, and variables in a study. Define random variable and identify sources of random variability in data collection and measurement. Define the probability distribution and cumulative distribution of a random variable. Calculate the mean and standard deviation of random variables. Explain the properties of a binomial random variable. Use binomial tables to make calculations and solve problems. Apply the formulas for the mean and standard deviation of binomials to solve problems. Define and recognize continuous random variables. Explain standard normal distribution and use the corresponding tables. Calculate probabilities for a general normal distribution.

Topics Covered

Probability and Statistical Inference - The language of probability - Samples and statistical inference - Hands-on: Identifying study elements Properties of Random Variables - Random variables and variability - Distribution of a random variable - Mean and s.d. of a random variable Binomial Distribution - Properties of binomial distribution - Binomial tables - Using the binomial table - Binomial mean and standard deviation Normal Distribution - Continuous random variables - Standard normal distribution - Probabilities and normal distribution - Hands-on: Calculating areas