Lesson 6: Intro to Probability

January 29, 2020

Review:

  • Quiz 02 Results
  • XLMiner and Multiple Regression

Presentation:

  • Intro to Probability
    • Topic worthy of its own course
    • Simulation of outcomes
      • Random phenomenon
        • Individual outcomes are uncertain
        • Regular distribution of outcomes in large number of trials
    • Video
    • Random number generation and stochastic processes
    • Demonstrate Coin Toss Simulation in Sheets

Activity:

  • Create your own Coin Toss Simulation in Sheets
  • Replicate the chart above but with 100 tosses

Justin

Justin Holman is CEO of Aftermarket Analytics, where he leads efforts to develop cutting edge sales forecasting and inventory optimization technology for the Automotive Aftermarket. Prior to joining Aftermarket Analytics, Justin managed corporate consulting for the Strategy & Analytics division at MapInfo Corporation, leading major projects for retail clients including The Home Depot, Darden Restaurants, Bridgestone-Firestone, Sainsbury’s and New York & Company. Before that, Justin served as Vice President of Software Development at LogicTools, now part of IBM's supply chain application software group. Justin holds a B.A. from Claremont McKenna College, a Ph.D. from the University of Oregon and an Executive Management certificate from Northwestern University's Kellogg School of Management.

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