# Symbols and their meanings

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This module defines symbols used throughout the Collaborative Statistics textbook.
Symbols and their meanings
Chapter (1st used) Symbol Spoken Meaning
Sampling and Data $\sqrt{}$ The square root of same
Sampling and Data $\pi$ Pi 3.14159… (a specific number)
Descriptive Statistics $\mathrm{Q1}$ Quartile one the first quartile
Descriptive Statistics $\mathrm{Q2}$ Quartile two the second quartile
Descriptive Statistics $\mathrm{Q3}$ Quartile three the third quartile
Descriptive Statistics $\mathrm{IQR}$ inter-quartile range Q3-Q1=IQR
Descriptive Statistics $\overline{x}$ x-bar sample mean
Descriptive Statistics $\mu$ mu population mean
Descriptive Statistics $s$ ${s}_{x}$ $\mathrm{sx}$ s sample standard deviation
Descriptive Statistics ${s}^{2}$ ${s}_{x}^{2}$ s-squared sample variance
Descriptive Statistics $\sigma$ ${\sigma }_{x}$ $\mathrm{\sigma x}$ sigma population standard deviation
Descriptive Statistics ${\sigma }^{2}$ ${\sigma }_{x}^{2}$ sigma-squared population variance
Descriptive Statistics $\Sigma$ capital sigma sum
Probability Topics $\left\{\right\}$ brackets set notation
Probability Topics $S$ S sample space
Probability Topics $A$ Event A event A
Probability Topics $P\left(A\right)$ probability of A probability of A occurring
Probability Topics $P\left(A\mid B\right)$ probability of A given B prob. of A occurring given B has occurred
Probability Topics $P\left(A\mathrm{or}B\right)$ prob. of A or B prob. of A or B or both occurring
Probability Topics $P\left(A\mathrm{and}B\right)$ prob. of A and B prob. of both A and B occurring (same time)
Probability Topics $\mathrm{A\text{'}}$ A-prime, complement of A complement of A, not A
Probability Topics $P\left(\mathrm{A\text{'}}\right)$ prob. of complement of A same
Probability Topics ${G}_{1}$ green on first pick same
Probability Topics $P\left({G}_{1}\right)$ prob. of green on first pick same
Discrete Random Variables $\mathrm{PDF}$ prob. distribution function same
Discrete Random Variables $X$ X the random variable X
Discrete Random Variables $\mathrm{X~}$ the distribution of X same
Discrete Random Variables $B$ binomial distribution same
Discrete Random Variables $G$ geometric distribution same
Discrete Random Variables $H$ hypergeometric dist. same
Discrete Random Variables $P$ Poisson dist. same
Discrete Random Variables $\lambda$ Lambda average of Poisson distribution
Discrete Random Variables $\ge$ greater than or equal to same
Discrete Random Variables $\le$ less than or equal to same
Discrete Random Variables $=$ equal to same
Discrete Random Variables $\ne$ not equal to same
Continuous Random Variables $f\left(x\right)$ f of x function of x
Continuous Random Variables $\mathrm{pdf}$ prob. density function same
Continuous Random Variables $U$ uniform distribution same
Continuous Random Variables $\mathrm{Exp}$ exponential distribution same
Continuous Random Variables $k$ k critical value
Continuous Random Variables $f\left(x\right)=$ f of x equals same
Continuous Random Variables $m$ m decay rate (for exp. dist.)
The Normal Distribution $N$ normal distribution same
The Normal Distribution $z$ z-score same
The Normal Distribution $Z$ standard normal dist. same
The Central Limit Theorem $\text{CLT}$ Central Limit Theorem same
The Central Limit Theorem $\overline{X}$ X-bar the random variable X-bar
The Central Limit Theorem ${\mu }_{x}$ mean of X the average of X
The Central Limit Theorem ${\mu }_{\overline{x}}$ mean of X-bar the average of X-bar
The Central Limit Theorem ${\sigma }_{x}$ standard deviation of X same
The Central Limit Theorem ${\sigma }_{\overline{x}}$ standard deviation of X-bar same
The Central Limit Theorem $\Sigma X$ sum of X same
The Central Limit Theorem $\Sigma x$ sum of x same
Confidence Intervals $\text{CL}$ confidence level same
Confidence Intervals $\text{CI}$ confidence interval same
Confidence Intervals $\text{EBM}$ error bound for a mean same
Confidence Intervals $\text{EBP}$ error bound for a proportion same
Confidence Intervals $t$ student-t distribution same
Confidence Intervals $\text{df}$ degrees of freedom same
Confidence Intervals ${t}_{\frac{\alpha }{2}}$ student-t with a/2 area in right tail same
Confidence Intervals $\mathrm{p\text{'}}$ $\stackrel{^}{p}$ p-prime; p-hat sample proportion of success
Confidence Intervals $\mathrm{q\text{'}}$ $\stackrel{^}{q}$ q-prime; q-hat sample proportion of failure
Hypothesis Testing ${H}_{0}$ H-naught, H-sub 0 null hypothesis
Hypothesis Testing ${H}_{a}$ H-a, H-sub a alternate hypothesis
Hypothesis Testing ${H}_{1}$ H-1, H-sub 1 alternate hypothesis
Hypothesis Testing $\alpha$ alpha probability of Type I error
Hypothesis Testing $\beta$ beta probability of Type II error
Hypothesis Testing $\overline{\mathrm{X1}}-\overline{\mathrm{X2}}$ X1-bar minus X2-bar difference in sample means
${\mu }_{1}-{\mu }_{2}$ mu-1 minus mu-2 difference in population means
$P{\text{'}}_{1}-P{\text{'}}_{2}$ P1-prime minus P2-prime difference in sample proportions
${p}_{1}-{p}_{2}$ p1 minus p2 difference in population proportions
Chi-Square Distribution ${Χ}^{2}$ Ky-square Chi-square
$O$ Observed Observed frequency
$E$ Expected Expected frequency
Linear Regression and Correlation $y=a+\mathrm{bx}$ y equals a plus b-x equation of a line
$\stackrel{^}{y}$ y-hat estimated value of y
$r$ correlation coefficient same
$\epsilon$ error same
$\mathrm{SSE}$ Sum of Squared Errors same
$1.9s$ 1.9 times s cut-off value for outliers
F-Distribution and ANOVA $F$ F-ratio F ratio

Calculate price elasticity of demand and comment on the shape of the demand curve of a good ,when its price rises by 20 percentage, quantity demanded falls from 150 units to 120 units.
5 %fall in price of good x leads to a 10 % rise in its quantity demanded. A 20 % rise in price of good y leads to do a 10 % fall in its quantity demanded. calculate price elasticity of demand of good x and good y. Out of the two goods which one is more elastic.
Helen
what is labor
labor is any physical or mental effort that helps in the production of goods and services
Kwabena
what is profit maximizing level of out put for above hypothetical firm TC = Q3 - 21Q2 + 600 + 1800 P = 600 MC = 3Q2 - 42Q + 600
consider two goods X and Y. When the price of Y changes from 10 to 20. The quantity demanded of X changes from 40 to 35. Calculate cross elasticity of demand for X.
Sosna
sorry it the mistake answer it is question
Sosna
consider two goods X and Y. When the price of Y changes from 10 to 20. The quantity demanded of X changes from 40 to 35. Calculate cross elasticity of demand for X.
Sosna
The formula for calculation income elasticity of demand is the percent change in quantity demanded divided by the percent change in income.
Sosna
what is labor productivity
if the demand function is q=25-4p+p² 1.find elasticity of demand at the point p=5?
what are some of the difference between monopoly and perfect competition market
n a perfectly competitive market, price equals marginal cost and firms earn an economic profit of zero. In a monopoly, the price is set above marginal cost and the firm earns a positive economic profit. Perfect competition produces an equilibrium in which the price and quantity of a good is economic
Naima
what are some characteristics of monopoly market
explicit cost is seen as a total experiences in the business or the salary (wages) that a firm pay to employee.
what is price elasticity
Fosua
...
krishna
it is the degree of responsiveness to a percentage change in the price of the commodity
Obeng
economics is known to be the field
what is monopoly
what is taxation
Peter
is the compulsory transfer of wealth from the private sector to the public sector
Jonna
why do monopoly make excess profit in both long run and short run
because monopoly have no competitor on the market and they are price makers,therefore,they can easily increase the princes and produce small quantity of goods but still consumers will still buy....
Kennedy
how to identify a perfect market graph
what is the investment
jimmy
investment is a money u used to the business
Mohamed
investment is the purchase of good that are not consumed today but are used in the future to create wealth.
Amina
investment is the good that are not consumed
Fosua
What is supply
Fosua
Supply represents how much the market can offer.
Yusif
it is the quantity of commodity producers produces at the market
Obeng
what is the effect of scarce resources on producers
explain how government taxes and government producer subsidies affect supply
Chanda
what is economic
what are the type of economic
Charles
macroeconomics,microeconomics,positive economics and negative economics
what are the factors of production
process of production
Mutia
Basically factors of production are four (4) namely: 1. Entrepreneur 2. Capital 3. Labour and; 4. Land but there has been a new argument to include an addition one to the the numbers to 5 which is "Technology"
Elisha
what is land as a factor of production
what is Economic
Abu
economics is how individuals bussiness and governments make the best decisions to get what they want and how these choices interact in the market
Nandisha
Economics as a social science, which studies human behaviour as a relationship between ends and scarce means, which have alternative uses.
Yhaar
Economics is a science which study human behaviour as a relationship between ends and scarce means
John
Economics is a social sciences which studies human behavior as a relationship between ends and scarce mean, which have alternative uses.....
Pintu
types of demand elasticity
what is competitive market?
a compataive market is when there are many producers competating to provide consumers with a goods and services needed
Tanveer
Researchers demonstrated that the hippocampus functions in memory processing by creating lesions in the hippocampi of rats, which resulted in ________.
The formulation of new memories is sometimes called ________, and the process of bringing up old memories is called ________.
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