Probability plays a crucial and important role in many things: industries, recreation, etc. Let's see how many we can think of. I know that we will all be amazed at how much our every day life is influenced by probability.

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Identify at least one example of probability encountered in everyday life which has not previously been mentioned.

I am the “chef” in the house and work most of my hours in the afternoon. As I am the one who is the most creative in the kitchen and the evening hours at work prevents me form cooking dinner during a normal time, the probability of me cooking and having dinner prepared before noon, to be heated up later is very high. If my family is to eat a home cooked meal, I am the one to create it. The probability is between 95-97%. •

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Explain how probability is used in that situation.

Probability is used in the above situation because nobody in my home can cook a homemade meal. They love to eat, but they are terrible in the kitchen. The only way that they will eat a home cooked meal in our home is if I cook it earlier in the day and they re-heat it at dinner time. If something had come up during the day, and I am unable to cook a meal, then the probability that anyone in the house would cook would be zero; because as I stated earlier I am the only cook in our home. •

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Identify the type of probability your example best fits by explaining whether it is an independent event or dependent upon something else.

This situation described could be either a dependent or independent event. In the case of a dependent event, I would be available during the day, with all of the ingredients to prepare the meal and nothing comes up during the day that would preclude me from cooking the meal. In the event that something came up, this would become an independent event because then I would not be available to cook because I was not at the house able to cook. The greater probability of me being available early in the day is greater...

...PROBABILITY DISTRIBUTION
In the world of statistics, we are introduced to the concept of probability. On page 146 of our text, it defines probability as "a value between zero and one, inclusive, describing the relative possibility (chance or likelihood) an event will occur" (Lind, 2012). When we think about how much this concept pops up within our daily lives, we might be shocked to find the results. Oftentimes, we do not think in these terms, but imagine what the probability of us getting behind the wheel of a car twice a day, Monday through Friday, and arriving at work and home safely. Thankfully, the probability for me has been 'one'! This means that up to this point I have made it to work and returned home every day without getting into an accident. While probability might have one outcome with one set of circumstances, this does not mean it will always turn out that way. Using the same example, just because I have arrived at work every day without getting into an accident, this does not mean it will always be true. As I confess with my words, and pray it does stay the same, probability tells me there is room for a different outcome.
In business, we often look at the probability of success or financial gain when making a decision. There are several things to take into consideration such as the experiment, potential outcomes, and possible events. An...

...of observations, which gives each observation equal weight, the mean of a random variable weights each outcome xi according to its probability, pi. The mean also of a random variable provides the long-run average of the variable, or the expected average outcome over many observations.The common symbol for the mean (also known as the expected value of X) is , formally defined by
Variance - The variance of a discrete random variable X measures the spread, or variability, of the distribution, and is defined by
The standard deviation is the square root of the variance.
Expectation - The expected value (or mean) of X, where X is a discrete random variable, is a weighted average of the possible values that X can take, each value being weighted according to the probability of that event occurring. The expected value of X is usually written as E(X) or m.
E(X) = S x P(X = x)
So the expected value is the sum of: [(each of the possible outcomes) × (the probability of the outcome occurring)].In more concrete terms, the expectation is what you would expect the outcome of an experiment to be on average.
2. Define the following;
a) Binomial Distribution - is the discrete probability distribution of the number of successes in a sequence of n independent yes/no experiments, each of which yields success with probability p. Therewith the probability of an event is defined by its binomial...

...CHAPTER 3: PROBABILITY DISTRIBUTION
3.1
RANDOM VARIABLES AND PROBABILITY DISTRIBUTION
Random variables is a quantity resulting from an experiment that, by chance, can assume different values. Examples of random variables are the number of defective light bulbs produced during the week and the heights of the students is a class. Two types of random variables are discrete random variables and continuous random variable.
3.2
DISCRETE RANDOM VARIABLE
A random variable is called a discrete random variable if its set of posibble outcomes is countable. Probability distribution is a listing of all the outcomes of an experiment and the probability associated with each outcome. For example, the probability distribution of rolling a die once is as below: Outcome, x Probability, P(x) 1 1 6 2 1 6 3 1 6 4 1 6 5 1 6 6 1 6
The probability distribution for P(x) for a discrete random variable must satisfy two properties: 1. The values for the probabilities must be from 0 to 1; 0 ≤ ( ) ≤ 1 2. The sum for P(x) must be equal to 1; ∑ ( ) = 1
QMT200
3.2.1 FINDING MEAN AND VARIANCE Mean of X is also referred to as its “expected value”.
= ( ) Where: = ∑[ ( )]
( )=
= (
) − [ ( )]
(
)=
[
( )] = ( )
Example 1 An experiment consists of tossing two coins simultaneously. Write down the sample space. If X is the number of tails observed,...

...The Real Case of IT Makes Cents
Back Ground Company
99 Cents only Stores is America's oldest chain of one-price stores. The chain consists of 220 stores in California, Nevada, Arizona, and Texas. The business was started as single store in Los Angeles in 1984. David Gold stepped down as the company's CEO, remains active as the Chairman of the Board. And his two sons and son- in-law run the company. The Gold family owns about 35% of the company
Strategic
- Low price product.
- Measure in retail industry: sale per square foot and profit margin on revenue.
- The competitor focuses on low to high income and this company too, but this company. observe that rich people is like to save. Therefore this company opens new stores in Beverly hill for new group of customer for low competitors.
- Purchase products a big lot for low price.
- Business intelligence company integrates technology into it operation and priority IT project by how much obvious return on investment.
The legacy system in the company
They use 15 fellow pickers are used to the electronic voice. It is generated by a computer that runs the distribution center's warehouse-management software. It instructs them which items to pick for individual stores. And the process do by voice and wireless (WLAN, cell phone ,walkie-talkies)
The company is never lost the money, between 1996 2003 when it went public the stock price climbed from $3.12 to $36.22 and now in US is a many...

...What makes a real woman?
Rachel Taylor
Iconic German designer, Karl Lagerfeld describes the fashion world as about “dreams and illusions” but does this world deem to be a nightmare for some over the magnificence its moguls describe?
For decades, the debate of whether the fashion industry promotes unhealthy body image has prevailed runway after runway.
Would using larger models decrease the prevalence of eating disorders? In the contrary, would this be promoting obesity? The representation of “real women” on the runway continues to become one of contemporary society’s most controversial debates and yet... we are no closer to an answer.
Within modern fashion history, designers have made global headlines, promoting their stance on the weighty debate. From the brutal oppose of Lagerfeld, daring size 20 model campaign of Gautier, to plus size collections of Marc Jacobs, designers have heeded the demand for larger models.
While the plus size model remains a rarity on the catwalk, they are appearing more frequently within mainstream society – magazines and ad campaigns promoting “real women” and “real beauty” has prompted a wave of both criticism and admiration.
Saying this, what is a real woman? What is real beauty? What represents the ideal woman?
These terms are now so recklessly abused that they’ve lost all emphasis. As for a “real woman”, does that...

...need to protect the health, safety, and overall well-being of school children and student youth by adopting a school calendar most suited to Philippine climatic conditions. Also, according to this bill, the adoption of the trimester for tertiary levels is better for accelerated completion of courses and continuity of lessons within the post secondary and college curriculum.
The bill also states the proposed school calendar for pre-elementary, elementary and secondary education that the first semester will start by September to mid-January plus Saturdays if needed to meet the 110 days required excluding official holidays. The second semester will start by mid-January to May plus Saturdays if needed to comply with the 110 days required and to make up for the days lost due to non-seasonal, climatic aberrations and the third semester will start from June to August covering the heaviest rainy months when the children and youth are safer at home. The proposed school calendar for post-secondary and tertiary level is also stated in the bill that the first semester will start from September to December in order to avoid the months of heaviest rain and greater number of typhoons. The second semester will start from January to April with provisions for the holidays and tradition graduation ceremonies and the third semester will start on May to August covering hot summer and heaviest rainy months. Students and youth may opt for distant study plan in view of climatic...

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MMM240 - Organisational Behaviour
Critical Essay
Matthew Acciarito, Student I.D: 900181318
Anthony Camerlengo, Student I.D: 90218998
“Leaders make a real difference in an organisation’s performance”. Explain and critically evaluate this statement.
Leadership is defined as “a special case of interpersonal influence that gets an individual or group to do what the leader wants done” (Wood, J. et al, 2010) this is depicted across society ultimately through developing opportunities on individuals and radiating inspiration and motivation within their scope of influence. Within these qualities over history great leaders have developed detailed theories that are constantly being utilized within successful corporations today. Amongst these are Trait theory, Behavioural theories and also the Situational contingency theories that were used to represent successful leadership qualities. Great leaders become highlighted in times of oppression, utilizing their talents to move forward and have solid control of their organisations, in turn developing positive organisational performance.
Through past generations leadership had developed to the ultimate success it is today. Through multiple theories, leadership has moved to the point where it now has a factual impact on organisations performance. The contemporary management theories are used in numerous ways of motivating, creating opportunity providing inspiration and resulting in a...

...households, firms, or governments.
MULTIPLE REGRESSION ANALYSIS: Statistical procedure that attempts to assess the relationship
between a dependent variable and two or more independent variables. Example: Sales of a popular soft
drink (the dependent variable) is a function of various factors, such as its price, advertising, taste, and the
prices of its major competitors (the independent variables)
4
Sujata Kapoor, JBS, JIIT,Dec’ 2009
IMPACT OF DIVIDEND POLICY ON SHAREHOLDERS’ VALUE: A
STUDY OF INDIAN FIRMS
1. INTRODUCTION
Dividend policy has been an issue of interest in financial literature since Joint Stock
Companies came into existence. Dividends are commonly defined as the distribution of
earnings (past or present) in real assets among the shareholders of the firm in proportion
to their ownership. [15] Dividend policy connotes to the payout policy, which managers
pursue in deciding the size and pattern of cash distribution to shareholders over time.
Managements’ primary goal is shareholders’ wealth maximization, which translates into
maximizing the value of the company as measured by the price of the company’s common
stock. This goal can be achieved by giving the shareholders a “fair” payment on their
investments. However, the impact of firm’s dividend policy on shareholders wealth is still
unresolved
The area of corporate dividend policy has attracted attention of management scholars and
economists culminating into theoretical...