Binomial Distribution – Statistical Decision Techniques for Managers

Please see the attached word and excel document for detail.

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>Sheet

1 Notes Teams: Reproduce this on .xls with formulas CASE

3 Send Money Go to Wheel Decide Bookmark. Spin wheel and record answers below.

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Testing p in

7

0% of college students (p=.70) get money from parents. Exploring the Binomial Distribution (Chapter

6

, class 2) Discovery Exercise 6.1 DTM p. 260 Pelosi X=total # of

successes Running total # of

Running total # of

Estimate of p in

5

trials

successes

Sample

d Sample

Observation

Number

s Number
1 1 2 3

4

5
2
3
4
5
6
7
8 9 10 Computed Result for p, ten trials <--insert Average Theoretical p

<--insert Average Difference? <--insert difference Conclusion? <--Write your conclusion here

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Sheet2

Sheet3

Create a Probability

S

pinner

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Case #

3

, P.

2

60 Pelosi Send Money

Exploring the Binomial Distribution. How close do your simulated findings compare to the USA Today predicted findings that 70% of college students receive spending money from their parents at school?

1

. Change number of sectors to 10 with >

2. Change color names to S (7) and

F

(3)

3. Click on Spin and record result (S or F)

4

. Enter into chart on p. 260

5

. Your chart should look like this (5 spins per sample):

F

S

S

2

S

S

S

S

F

Sample Number	Obs 1		2	3	4	5
1			F							S
This is an example.

6. Do about ten trials (samples).

7. Fill out question #2 Relative Frequency Distribution

8. Skip the other questions but do #7 (by hand or on spreadsheet) and answer the question.

Case write up. Put this on a spreadsheet with all appropriate formulas and calculations. Do 30 samples and compare this to the result your group got. Do you see any difference? Do the chart for question #7 as well.

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