Statistics (Decision Analytics) with Wouter Verbeke

1. Chebyshev's theorum: (Page 65 in James R Evans (2010), Statistics, Data Analysis and Decision Modeling 4/e (International Edition), Pearson, New Jersey. ISBN 978-0-13-701903-8.
2. Monte-Carlo simulations (P119)
3. Issues of Notation
4. Random variable: X
5. Value of random variable: x
6. prob. mass fxn: f(x)
7. cumu. dist. fxn: F(x)
8. sampling distribution of the mean- characterizes the populations of means
1. of all possible samples of given size
2. standard error of the mean- addresses certainty in mean, estimates standard deviation (which can't be known)
3. if the population is normal, the sampling distribution is also normal