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Quantitative Methods MM ZG515 / QM ZG515: L8: Revision

The document discusses quantitative methods concepts including the normal probability distribution, standard normal distribution, and how to calculate probabilities for normally distributed random variables. It provides examples of calculating probabilities for normal distributions with different means and standard deviations. Additionally, it reviews concepts like ordered arrays, stem-and-leaf displays, histograms, and measures of central tendency and variation that are commonly used in quantitative analysis.

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ROHIT SINGH
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144 views14 pages

Quantitative Methods MM ZG515 / QM ZG515: L8: Revision

The document discusses quantitative methods concepts including the normal probability distribution, standard normal distribution, and how to calculate probabilities for normally distributed random variables. It provides examples of calculating probabilities for normal distributions with different means and standard deviations. Additionally, it reviews concepts like ordered arrays, stem-and-leaf displays, histograms, and measures of central tendency and variation that are commonly used in quantitative analysis.

Uploaded by

ROHIT SINGH
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Quantitative Methods

MM ZG515 / QM ZG515

BITS Pilani L8: Revision


Pilani | Dubai | Goa | Hyderabad Srinivas Kota
Standard Normal Table
Normal Probability Distribution

.5 .5
x
μ
Reading the Table for N(0, 1)
P(Z ≤ 0) ? P(Z ≥ 0) ?

P(Z < 0.85) ?

P(Z ≤ 0.85) ?

P(Z < ‐0.85) ?

P(0.5 < Z < 0.85) ?

P(‐0.85 < Z < ‐0.5) ?

15/02/2020 Quantitative Methods MM ZG515 / QM ZG515 2
Transforming N(μ, σ) to N(0, 1)

X ~ N(μ, σ)

Z ~ N(0, 1)

z is the number of standard deviations x is from μ.

3 QMZG 515 / MMZG515 Quantitative Methods WILPD, BITS Pilani


N(4, 2) – Example
X ~ N(4, 2)

Q1. Compute P( X > 5)

Q2. Compute P(4 < X < 5)

4 QMZG 515 / MMZG515 Quantitative Methods WILPD, BITS Pilani


N(0, 1) – Example

X ~ N(4, 2)
Q1. P(X > 5)

Q2. P(4 < X < 5)

5 QMZG 515 / MMZG515 Quantitative Methods WILPD, BITS Pilani


Standardized
Normal Distribution

6 QMZG 515 / MMZG515 Quantitative Methods WILPD, BITS Pilani


N(50, 10) – Example

The Engineering College has been conducting an entrance exam for the last 50
years. The scores on this test are normally distributed with a μ = 50 and a σ = 10.
Kumar believes that he must do better than at least 80% of those who take the test.
Kumar scores 58. Will he be selected?

7 QMZG 515 / MMZG515 Quantitative Methods WILPD, BITS Pilani


N(50, 10) – Example
X: Score of a randomly selected student
X ~ N(50, 10)
P(X < 58)

8 QMZG 515 / MMZG515 Quantitative Methods WILPD, BITS Pilani


BITS Pilani
Pilani | Dubai | Goa | Hyderabad

Revision

9 QMZG 515 / MMZG515 Quantitative Methods WILPD, BITS Pilani


Revision

• Ordered Array | Stem-Leaf Display | Contingency table

• Histogram | Bar Chart | Pie Chart | Pareto Chart

• Mean | Mode | Median | SD | Variation

• Quartiles

• Basics of Probability

• Discrete: Binomial Distribution | Poisson Distribution

• Continuous: Normal Distribution

10 QMZG 515 / MMZG515 Quantitative Methods WILPD, BITS Pilani


Ordered Array, Stem-Leaf Display
Age of Surveyed Day Students
College Students 16 17 17 18 18 18
19 19 20 20 21 22
22 25 27 32 38 42
Night Students
18 18 19 19 20 21
23 28 32 33 41 45

11 QMZG 515 / MMZG515 Quantitative Methods WILPD, BITS Pilani


Contingency Table

A survey was conducted to study the importance of


brand name to consumers as compared to a few years
ago. The results, classified by gender, were as follows:
Importance of Male Female
Brand Name
More 450 300
Equal or Less 3300 3450

12 QMZG 515 / MMZG515 Quantitative Methods WILPD, BITS Pilani


Histogram, Bar Chart, Pie Chart, and Pareto Chart

Class (x) Frequency(f)


51-55 2
56-60 7
61-65 8
66-70 4

13 QMZG 515 / MMZG515 Quantitative Methods WILPD, BITS Pilani


Mean, Median, Mode, SD, Variation
Age of Surveyed Day Students
College Students 16 17 17 18 18 18
19 19 20 20 21 22
22 25 27 32 38 42
Night Students
18 18 19 19 20 21
23 28 32 33 41 45

14 QMZG 515 / MMZG515 Quantitative Methods WILPD, BITS Pilani

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