Robert F. Mulligan, Ph.D.
WESTERN CAROLINA UNIVERSITY COLLEGE OF BUSINESS Department of Economics, Finance, & International Business |
I. Random and Non-random Numbers |
A. An algebraic equation as an example of a non-random variable Slide 1: a Random Number Table
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B. Gross characteristics of random number sequences1. Example: probability die Slide 2: A Non-random Counterexample
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C. Poor randomization in an ESP experiment |
II. From Random Number Sequence to Random Variable
Slide 3: 1000 Observations of a Uniform Random Variable
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A. Some examples of Random Number Sequences1. Multiplicative congruential sequences Slide 4: A Histogram of Slide 3
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B. Converting a sequence into an R.V. |
III. The Normal or Gaussian Distribution
Slide 5: 1000 Observations of a Normal or Gaussian
Random Variable
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A. Range and bounds Slide 6: A Histogram of Slide 5
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B. The classic bell curve shape |
IV. The Cauchy Distribution
Slides 7 through 9: Transforming a Uniform R.V. into
a Cauchy R.V.
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A. Range, bounds, and variance Slide 10: A Histogram of Slide 9
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B. Normal v. Cauchy characteristics |
V. Deterministic v. Non-deterministic processes
Slide 11: A Manufacturing Process
Informational efficiency and very complex deterministic or chaotic processes |