PPT-Binomials GrowingKnowing.com © 2011

1 GrowingKnowingcom 2011 Binomial probabilities Your choice is between success and failure You toss a coin and want it to come up tails Tails is success heads is failure Although you have only 2 conditions success or failure it does not mean you are restricted to 2 events. 
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\r  Excel. GrowingKnowing.com © 2011. 1. GrowingKnowing.com © 2011. Estimates. We are often asked to predict the future!. When will you complete your team project?. When will you make your first million dollars?. Excel. GrowingKnowing.com © 2011. 1. GrowingKnowing.com © 2011. There are 5 steps. Step 1: State the null and alternative hypothesis. Step 2: Select a confidence level. Step 3: Determine the decision rule. Excel. GrowingKnowing.com © 2011. 1. GrowingKnowing.com © 2011. Sample size. How big should a sample be for a valid study?. Why phone 10,000 students if phoning 50 is enough?. Large samples take longer and cost more. GrowingKnowing.com © 2011. 1. GrowingKnowing.com © 2011. Estimates. We are often asked to predict the future!. When will you complete your team project?. When will you make your first million dollars?. Manual. GrowingKnowing.com © 2011. 1. GrowingKnowing.com © 2011. Sample size. How big should a sample be for a valid study?. Why phone 10,000 students if phoning 50 is enough?. Large samples take longer and cost more. GrowingKnowing.com © 2011. 1. GrowingKnowing.com © 2011. Binomial probabilities. Your choice is between success and failure. You toss a coin and want it to come up tails. Tails is success, heads is failure. General Factoring Strategy:. Z: (. if needed. ) Arrange in Descending Order of Exponents . A: (. if needed. ) Factor out the Greatest Common Factor. B: Count the number of terms remaining:. 2 Terms: If it’s . 1. GrowingKnowing.com © 2011. Percentile. What ‘s the difference between percentile and percent?. Percent measures ratio. 90% . percent . on a test shows you got 9 out 10 questions right. . Percentile measures position. 1. GrowingKnowing.com © 2011. Small Samples. If your sample size is below 30, this is a small sample so use the t table, not z.. Decision rule uses =. t.inv. instead of =. normsinv. Excel 2010: . GrowingKnowing.com © 2011. 1. GrowingKnowing.com © 2011. Estimates. We are often asked to predict the future!. When will you complete your team project?. When will you make your first million dollars?. 1. Sampling. A . sample. is a subset of the . population. In a . sample. , you study a few members of the population. In a . census. , you study every member of the population. If done properly, a sample can be accurate and avoid the cost and time needed for a full census . 1. GrowingKnowing.com © 2011. Sample size. How big should a sample be for a valid study?. Why phone 10,000 students if phoning 50 is enough?. Large samples take longer and cost more. What if a sample of 50 is not enough, you need 51 for a valid study?.