MGT 304 Formula Sheet (Key Equations) • Coefficient of Variation

s
CV =
x̄
Topic 1: Describing Data and Summarizing Data
• Z Score
• Determining the Class Interval Width:
x − x̄
z=
highest value - lowest value s
Interval width =
number of classes
• First Quartile
• Computing the Proportion or Relative Frequency:

number of values in each class 1 × (n + 1)

Proportion = relative frequency = Q1 = ranked value
total number of valuess 4

• Third Quartile

3 × (n + 1)
Topic 2: Numerical Descriptive Measures Q3 = ranked value
4
• Sample Mean • The Empirical Rule
P
xi
x̄ =
n
• Median

n+1
Median = ranked value
2
• Range

Range = Xlargest − Xsmallest

• Sample Variance

(xi − x̄)2
P
2
s =
n−1
• Sample Standard Deviation
rP
(xi − x̄)2
s=
n−1
 • General Multiplication Rule

P (A and B) = P (A|B) × P (B)

• Multiplication Rule for Independent Events

P (A and B) = P (A) × P (B)

• Marginal Probability Using the General Multiplication Rule

′ ′
P (A) = [P (A|B) × P (B)] + [P (A|B ) × P (B )]
• Interquartile Range
• Bayes’ Theorem
Interquartile range = Q3 − Q1
′ ′
′ P (A|B ) × P (B )
P (B |A) =
[P (A|B ) × P (B ′ )] + [P (A|B) × P (B)]
′

Topic 3: Basic Probability

• Probability of Occurrence

number of ways in which the event occurs

Probability of occurrence =
total number of possible outcomes

• Marginal Probability
′
P (A) = P (A and B) + P (A and B )

• General Addition Rule

P (A or B) = P (A) + P (B) − P (A and B)

• Conditional Probability

P (A and B)
P (A|B) =
P (B)

• Independence

P (A|B) = P (A)