MGSC 1108 Formula Sheet

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Business Statistics Formula Sheet

H−L
2k ≥ n Class Width =
K

Population Sample

Mean = =

∑ X − ∑n
2
( X)2

Variance 2 = s2 = n−1 or s2 =


(∑ X )
2

∑X − n
2

Standard Deviation = s= n−1 or s=

σ
Coefficient of Variation CV = μ X 100 CV = X 100

1 3( x−median )
1− sk=
Chebyshev’s Theorem k2 Coefficient of Skewness s
Probability Concepts
P(A or B) = P(A) + P(B) for events that are mutually exclusive

P(A or B) = P(A) + P(B) - P(A and B) for events that are not mutually exclusive

Complementary Events P(A) = P(1 - ~A)

P(A and B) = P(A) P(BA) for dependent events P(AB) =

P(A and B) = P(A) P(B) for independent events

Discrete Probability Distributions


Expected Value   E(X) = xP(x) Variance 2 = (x-)2  P(x)

Standard Deviation  =
Binomial Distribution
Mean   E(X) = np Standard Deviation  = √ np(1−p)

Normal Distribution

Z=

Sampling Distribution of Sample Means and sample proportions


σ s x−μ x
σ x= σ x=
√n or √n Z = σ x
p− p
Z=
p=
X
n
σ p=
√ p(1− p )
n √ p (1− p )
n

Confidence Intervals

x
σ
 z ( √ n ),
s
x  t ( √ n ),
p±Z
√ p(1− p )
n

Sample size determination

( ) ()
2 2
zσ z
p(1− p )
for the mean n = E for the proportion n= E
Chi- Square - 2
( fo−fe)2
∑ fe
2 =

where fe = (row total) (column total)


Grand Total

Degrees of freedom = (k-1) Degrees of freedom = (r-1) (c-1)

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