Lesson 12: Intro to Random Numbers

March 1, 2022

Review:

  • Multiple Regression
  • Project 2
    • Sheets issues
    • Deadline extended to Thu, Mar 3.

Presentation:

  • Probability
    • Topic worthy of its own course
    • Discrete vs Continuous
  • Random Numbers
    • Demonstrate RANDBETWEEN() in Sheets
    • Demonstrate RAND() in Sheets
  • Simulation
    • Individual outcomes are uncertain
    • Distribution of outcomes over many iterations are predictable.
  • Demonstrate Coin Toss Simulation in Sheets

Assignment:

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