Week 3 E-Lab Experemenation
Week 3 E-Lab Experimentation
Multinomial Distributions Calculator
I entered the data from textbook problem 5.8 into the calculator
The following is copied from the result page
Expected Value = 3.6
Variance = 4.54
Standard Deviation = 2.130728
Coefficient of Variation = 59.186889%
The expected value is the mean and the deviation is self-evident. I liked the ease of use and the calculator seemed to have no bugs. It can obviously be used for more complicated problems.
BTW this exercise pointed out a mistake I made in my homework of 5.8 – I forgot to take the square root of the variance to arrive at the standard deviation! A gained a good learning experience.
The P-values for the Popular Distributions
For this tool I used Binomial Mass Function for textbook problem 5.22 to test.
The generated results can be used to answer 5.22:
Bottom of Form
Bottom of Form
Bottom of Form
a. P(X ≥ 3) = 0.064
b. p(x = 1) = P(X ≥ 2) - P(X ≥ 1) = 0.784 – 0.352 = 0.432
c. p(x ’ 0 or x = 1) = 1 - P(X ≥ 2) = 1 – 0.352 = 0.648
Testing the Population Correlation Coefficient
I used a data set from a problem in the WebMBA finance course that I’m taking this term. The results are:
The correlation coefficient of 0.896765 agrees with the manual calculation result based on the formula
Correlation (X, Y) = Covariance (X, Y)/(σXσY)
Where
_ _
Covariance(X, Y)= Σ(XY)/n – X Y
σX and σY are the standard deviations of X and Y respectively.
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