Probability distribution Definition with example: The total set of all the probabilities of a... random variable to attain all the possible values. Let me give an example. We toss a coin 3 times and try to find what the probability of obtaining head is? Here the event of getting head is known as the random variable. Now what are the possible values of the random variable, i.e. what is the possible number of times that head might occur? It is 0 (head never occurs), 1 (head occurs once out of 2 tosses)...
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we cannot always use the normal approximation to binomial. Solution: If a sample is n>30, we can say that sample size is sufficiently... large to assume normal approximation to binomial curve. Hence the statement is false. #2 A salesperson goes door-to-door in a residential area to demonstrate the use of a new Household appliance to potential customers. She has found from her years of experience that after demonstration, the probability of purchase (long run average) is 0.30. To perform...
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EXERCISES (Discrete Probability Distribution) EXERCISES (Discrete Probability Distribution) P... X x n C x p 1 p x BINOMIAL DISTRIBUTION n x P X x n C x p 1 p x BINOMIAL DISTRIBUTION n x 1. 2. 3. The probability that a certain kind of component will survive a given shock test is ¾. Find the probability that exactly 2 of the next 4 components tested survive. The probability that a log-on to the network is successful is 0.87. Ten users...
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Poisson distribution is a discrete distribution. It is often used as a model for the number of events (such as the number of... telephone calls at a business, number of customers in waiting lines, number of defects in a given surface area, airplane arrivals, or the number of accidents at an intersection) in a specific time period. It is also useful in ecological studies, e.g., to model the number of prairie dogs found in a square mile of prairie. The major difference between Poisson and Binomial distributions...
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The Binomial Distribution October 20, 2010 The Binomial Distribution Bernoulli Trials... Deﬁnition A Bernoulli trial is a random experiment in which there are only two possible outcomes - success and failure. 1 Tossing a coin and considering heads as success and tails as failure. The Binomial Distribution Bernoulli Trials Deﬁnition A Bernoulli trial is a random experiment in which there are only two possible outcomes - success and failure. 1 Tossing a coin and considering...
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BINOMIAL THEOREM : AKSHAY MISHRA XI A , K V 2 , GWALIOR In elementary algebra, the binomial theorem describes the... algebraic expansion of powers of a binomial. According to the theorem, it is possible to expand the power (x + y)n into a sum involving terms of the form axbyc, where the coefficient of each term is a positive integer, and the sum of the exponents of x and y in each term is n. For example: The coefficients appearing in the binomial expansion are known as binomial coefficients....
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Unit 6. Normal Distribution Solution to problems Statistics I. International Group Departamento de Economa Aplicada Universitat de Valncia... May 20, 2010 Problem 35 Random variable X : weekly ticket sales (units) of a museum. X ∼ N(1000, 180) Find the probability of weekly sales exceeding 850 tickets. Find the probability of the interval 1000 to 1200 Take 5 weeks at random. Find the probability of weekly sales not exceeding 850 tickets in more than two weeks Ticket price is 4.5 Euros...
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The T-Distribution and T-Test “In probability and statistics, Student's t-distribution (or simply the... t-distribution) is a continuous probability distribution that arises when estimating the mean of a normally distributed population in situations where the sample size is small” (Narasimhan , 1996). Similar to the normal distribution, the t-distribution is symmetric and bell-shaped, but has heavier tails, meaning that it is more likely to produce values far from its mean. This makes the t-distribution...
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Normal Distribution Normal distribution is a statistics, which have been widely applied of all... mathematical concepts, among large number of statisticians. Abraham de Moivre, an 18th century statistician and consultant to gamblers, noticed that as the number of events (N) increased, the distribution approached, forming a very smooth curve. He insisted that a new discovery of a mathematical expression for this curve could lead to an easier way to find solutions...
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(a) Suppose we take a random sample of size 100 from a discrete distribution in this manner: A green die and a red die are thrown... simultaneously 100 times and let Xi denote the sum of the spots on the two dice on the ith throw, i = 1, 2,...100. Find the probability that the sample mean number of spots on the two dice is less than 7.5. n = 100 µ = 7 µ[pic] = 7 σ = 2.41 σ[pic] = 2.41 /[pic] |X |2 |3 ...
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PROBABILITY AND STATISTICS Lab, Seminar, Lecture 4. Behavior of the sample average X-bar The topic of 4th seminar&lab is the average... of the population that has a certain characteristic. This average is the population parameter of interest, denoted by the greek letter mu. We estimate this parameter with the statistic x-bar, the average in the sample. Probability and statistics - Karol Flisikowski X-bar Definition 1 x xi n i 1 Probability and statistics - Karol Flisikowski ...
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C H A P T E R 6 The Normal Distribution Objectives Outline After completing this chapter, you should be able to 1 2 3... Identify distributions as symmetric or skewed. 4 Find probabilities for a normally distributed variable by transforming it into a standard normal variable. Introduction 6–1 Normal Distributions Identify the properties of a normal distribution. Find the area under the standard normal distribution, given various z values. 5 Find...
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HOMEWORK 2 FROM CHAPTER 6 and 7, NORMAL DISTRIBUTION AND SAMPLING Instructor: Asiye Aydilek PART 1- Multiple Choice Questions ____ 1. For... the standard normal probability distribution, the area to the left of the mean is a. –0.5 c. any value between 0 to 1 b. 0.5 d. 1 Answer: B The total area under the curve is 1. The area on the left is the half of 1 which is 0.5. ____ 2. Which of the following is not a characteristic of the normal probability distribution? a. The mean and median are equal ...
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A coin is tossed four times. The probability is ¼ or 0.25 that all four tosses will result in a head face up. Answer Correct Answer:... False A firm offers routine physical examinations as part of a health service program for its employees. The exams showed that 8% of the employees needed corrective shoes, 15% needed major dental work and 3% needed both corrective shoes and major dental work. What is the probability that an employee selected at random will need either corrective shoes...
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their side. Case Study Questions 1. If the DataStor DS1000 hard drive production process at DataStor Company is “in control”, what... percentage of the drives produced would be considered to be in nonconformance by Four-D? In other words, what is the likelihood (probability) that the PDQ test score of a drive tested at DataStor will fall below 6.2? The probability that a PDQ test score of a drive tested at DataStor will fall below 6.2 is .38%. We arrived at this conclusion based on DataStor’s...
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Example “initial” DEVRY MATH221 Discussion posts This is a collection DEVRY Math221 “Statistics for Decision Making” Discussion posts. This... class is set up as a 8-week class where in the first 7-weeks you must post 3 discussion posts. These posts should be viewed as the ‘initial’ posts for each week. Normally the 2nd and 3rd posts each week are responses to other students. These discussions make up ~14% of the class so they are very important, and an easy way to get maximum points! These...
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Mathematical Systems Probability Solutions by Bracket A First Course in Probability Chapter 4—Problems 4. Five men and 5... women are ranked according to their scores on an examination. Assume that no two scores are alike and all 10! possible rankings are equally likely. Let X denote the highest ranking achieved by a woman (for instance, X = 1 if the top-ranked person is female). Find P X = i , i = 1, 2, 3, . . . , 8, 9, 10. Let Ei be the event that the the ith scorer is female. Then the...
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1. A sample of 20 employee’s salaries from a large company results in the following salaries (in thousands of dollars) for this year. 28 31 34 35 37 47 42... 42 49 41 42 60 52 52 51 72 67 61 75 77. What is the interquartile range (in thousands) of this data set? (A) 21.5 (B) 10 (C) 50 (D) 23 (E) correct answer is not given 2. Please refer to the previous question. Suppose each employee in the company receives $3,000 raise for next year. The interquartile range (IQR) of the salaries will: (A)...
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Subject : Probability and Statistics = PS Strand 1: Introduction to Statistics. Strand 2: Organizing Data. Strand 3 : Averages and Variation... Strand 4: Elementary Probability Theory. Strand 5: The Binomial Probability Distribution and Related Topics. Strand 6: Normal Distributions. Strand 7: Introduction to Sample Distributions. Benchmark Code Subject (M, S, SS, LA).Grade#.Strand#.Standard#. Benchmark# Example: PS.1.4.3 – Probability and Statistics, Strand 1, Standard 4, Benchmark 3 Strand: 1 INTRODUCTION...
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1. State whether the variable is discrete or continuous. The # of keys on each student's key chain. 2. Decide whether the experiment is a... binomial experiment. Explain why by citing the properties of binomial experiments. Testing a pain reliever using 20 people to determine if it is effective. The random variable represents the number of people who find the pain reliever to be effective. 3. Use the binomial probability distribution to answer the following probability questions. According to...
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containing N=902 individuals, what code number would you assign for; a. The first person on the list= 001 b. The fortieth person on the... list= 040 c. The last person on the list= 902 Ch. 7 Pr. 13 What additional information would you want to know about the survey before you accepted the results of the study? -Why was the study conducted? –What was the margin of error? –What was the sample size? -What sampling design was used? –What was the response rate? –What was the frame that was used...
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Google company to be number one to work with in best company category so employees feel that Google is the best to work with and they have some great... attitude on Google company. Following in this case, Google give employees what they want. First, Google can pay for almost everything what employee’s needs and meanwhile Google take care of their worries. I think it sound like a family. Therefore in 2010, Google was be ranked by Fortune Magazine for two years running, the best company to work for. Generally...
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research firm selects a random sample of adults and asks them a list of questions regarding their beverage preferences. What type of data... collection is involved here? a. An experiment. b. A survey. c. Direct observation. d. None of these choices. 3. A researcher conducts a study where she divides subjects into two groups, gives each group a certain treatment, and records their responses. What type of data collection is being used here? a. An experiment. b. Direct observation. c. A survey. d. A census. 4...
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Rebecca Aspinwall Professor Patrick Shal 11/05/2012 What is The Bystander Effect? Dr's John M Darley and Bibb Latane are both professors... of psychology. Even though they have not attended or worked at the same university, their credibility is equally the same. Their award-winning research was gathered to complete their essay "Why Don't People Help in a Crisis," they suggest the probability of a bystander helping is correlated to the number of bystanders present. Next Darley and Latane state...
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Ch 4: Order does not matter: 25C5 = 53,130 ) | CORRECT | Points Received: 5 of 5 2. Question: (TCO 4) Which of the following cannot be a... probability? Your Answer: | | 1 | | | | | 85% | | | | | 0.425 | | | | | 4/3 | ( Ch 3: 4/3 = 1.333… cannot be a probability because probabilities are always between 0 and 1 inclusive ) | CORRECT | Points Received: 5 of 5 3. Question: (TCO 4) List the sample space for dealing only...
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Instructor: Todd Davies Game Theory Through Examples (2/11/04) Games against nature - decision theory for a single agent Expected... utility theory for a single agent is sometimes called the theory of "games against nature". Consider this example. Example 1: Planning a party Our agent is planning a party, and is worried about whether it will rain or not. The utilities and probabilities for each state and action can be represented as follows: | ...
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analysis is vital. For example, consider the research around employee held corporations (ESOP) such as Southwest Airlines. An analysis of the... performance of such companies finds that that ESOP’s not only increase the organization’s ability to attract and retain talent but also increase sales by 2.3% - 2.4% per year over what would have been expected absent an ESOP1. The study used various statistical methods that will be examined later in this paper in more detail. Probability in Measuring Performance ...
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Classify the following random variable as to whether it is discrete or continuous. 1) The number of runs scored in a baseball game. A)... continuous B) discrete Ans = B 2) The cost of a road map. A) continuous B) discrete Ans = B Provide an appropriate response. 3) A random variable is A) generated by a random number table. B) the variable for which an algebraic equation is solved. C) a numerical measure of a probability experiment.. Ans...
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A: True An inspector correctly identifies 90% of the time. For the next 10 products, the probability that he makes fewer than 2 incorrect... inspections is .736. A: Use Binomial table to discover , add 3 probabilities for 0,1,2 A continuous random variable may assume only integer values within a given interval. A: False A decision tree is a diagram consisting of circles decision nodes, square probability nodes and branches. A: False A table of random numbers must be normally distributed and...
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REVISION NOTES Binomial Distribution Binomial probability distribution is defined... as: * P(X=r) = nCr x pn x (1-p)n-r * Distribution is written as: X~B(n,p) Conditions include: * Fixed number of trials * All trials are independent of one another * Probability of success remains constant * Each trial much have the same two possible outcomes E(X) = np Var(X) = npq [where q = 1 - p] SD(X) = Var (X) = npq To calculate the probabilities: * P(X ≤...
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the selection of distribution channels and sales representation is key to successful marketing. It's fairly easy to change many of your... marketing tactics and strategies on a periodic basis; pricing, packaging, and product mix are among these flexible choices. However, distribution and sales decisions, once made, are much more difficult to change. And distribution affects the selection and utilization of all other marketing tools. There is a wide variety of possible distribution channels, including:...
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1. What are descriptive statistics and how do they differ from inferential statistics? INTRODUCTION Statistical procedures can be divided... into two major categories: descriptive statistics and inferential statistics. Typically, in most research conducted on groups of people, you will use both descriptive and inferential statistics to analyse your results and draw conclusions. So what are descriptive and inferential statistics? And what are their differences?We have seen that descriptive statistics...
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more ways. They may differ in their wants, resources, locations, buying attitudes and buying practices.” (Kotler et al. 2007, pg.345) List and describe in... detail the four major variables used for segmenting markets. For each of the four major variables list and describe three groups within that variable. Provide examples of your choice to illustrate your answer. (p.265) --Problem recognition, info search, evaluation, purchase, post purchase: role of marketing in these 1. Geographic: dividing market...
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MATH 107 NAME:_______________________ EXAM 2 Show all work for credit and keep answers exact when possible. 1. Classify the following statement... as an example of classical, empirical, or subjective probability and explain your reasoning. According to your doctor he feels the chance of you surviving a surgery is 0.85. Subjective; based upon his feelings. 2. Determine the two events described in the study. Do the results indicate that the events are independent or dependant? ...
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| Pricing and Distribution Strategies | SUO Mkt3010 | Dr. Darlene Jaffke | Linda Taylor | 10/13/2012 | At this time, Taylor... Trucking has established contracts with various manufacturers in the regional area. The industry standard of pricing based on miles per thousand pounds of product will continue in this company for the rates charged for shipments. The customer will also be responsible for any fuel surcharge that will be based on miles travelled. Taylor Trucking’s low overhead will...
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organization; the remaining 3p's are the variable cost for the organization. It costs to produce and design a product; it costs to distribute a... product and costs to promote it. Price must support these elements of the mix. Pricing is difficult and must reflect supply and demand relationship (Constantinides, 2006). Pricing a product too high or too low could mean a loss of sales for the organization. Pricing should take into account the following factors: • Fixed and variable costs • Competition • Company...
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Business Statistics Chapter 7 Sampling and Sampling Distributions 6-1 Learning Objectives In this chapter, you learn: The concept of the... sampling distribution To compute probabilities related to the sample mean and the sample proportion The importance of the Central Limit Theorem To distinguish between different survey sampling methods To evaluate survey worthiness and survey errors 7-2 Reasons for Drawing a Sample Selecting a sample is less time-consuming than selecting every...
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Vegas is cutting a deck of cards for $1,000. What is the probability that the card for the gambler will be the following? a. A... face card – there are 12 face cards in a deck of 52 cards. The probability would be 12/52 b. A queen – there are 4 queens in a deck, so the probability would be 4/52 c. A Spade - There are 13 cards of each suit so the probability is 13/52 or ¼. d. A jack of spades - There is only 1 jack of spades in a deck, so the probability would be 1/52 2. The employees in the textile...
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Create five performance indicators that could apply for sales manager Lead Response Time When it comes to lead response, speed is essential to... increasing sales reps’ odds of success. The data seems to confirm what our instincts tell us -- that prospects equate a responsive company with a good company. Since Harvard’s study on response outcomes showed that sales reps that contacted leads within 1 hour were seven times more likely to have a meaningful conversation with a decision maker, other...
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for example a person is throwing a die. One knows the possible out comes that is the person may get 1 to 6 but the person | |will not know... which one will materialize. In capital budgeting also a person knows the possible outcomes but don't know which | |outcome will occur due to randomness and uncertainty. In such situation Monte Carlo Simulation allows a person to model all | |potential combination of scenarios for the uncertain variables. After specification of the uncertain variables characteristics| ...
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perform a distribution function. The distribution function is vital to the economic well-being of society because it provides the... goods and services desired by the consumer. Economists often describe the value of distribution in terms of ownership, place, and time utility. The marketer contributes to the product's value by getting it to the right place at the time the consumer wants to buy it and by providing the mechanism for transferring ownership. Firms that do not perform the distribution function...
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in…A. the normal distributionB. the binomial distributionC. the Poisson distributionD. the hypergeometric distribution 6) The... difference between the sample mean and the population mean is called the…A. margin of errorB. population standard deviationC. standard error of the meanD. sampling error 7) A dummy variable or indicator variable… A. may assume only a value of 0 or 1B. is another term for the dependent variableC. is a quantitative variableD. is a variable at a ratio or interval level of measurement ...
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elements in success of clothes retailing is how the company use their distribution channel decision and strategies. This essay will study on... Hennes & Mauritz's (H&M) , the Swedish-owned globally famous fashion retailing and research on how they deal and rely on their distribution channel partners. Unlike their competitors such as Uniqlo, Forever21, ZARA or GAP ,H&M has implemented a unique and efficient distribution channel strategy to increase their level of competitiveness and cost...
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0/ 1.0 Points | Numerical variables can be subdivided into which two types? | | A. Cross-sectional and discrete | | | | B.... Diverse and categorical | | | | C. Nominal and progressive | | | | D. Discrete and continuous | | Answer Key: D | Part 2 of 9 - | 2.0/ 2.0 Points | Question 2 of 25 | 1.0/ 1.0 Points | A jar contains four white marbles, five red marbles, and six black marbles. If a marble is selected at random, find the probability that it is white or black...
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SAMPLING SAMPLING SAMPLING DISTRIBUTION (THEORETICAL) SAMPLING TECHNIQUES (APPLIED) 8/13/2014 QM_Session 14 15 SAMPLING TERMS An... unit/element is the entity on which data are collected. A population is a collection of all the units/elements of interest. A sample is a subset of the population. The sampled population is the population from which the sample is drawn. A frame is a list of the elements/units that the sample will be selected from. 8/13/2014 QM_Session 14 15 Parameter and...
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Ethics and Technology What is the Relationship? Rick Wagoner Information Education Technology 600, Section 002... Professor Dr. A Zargari September 10, 2004 Ethics and Technology What is the Relationship? With technology as well as many other fields of study or concentration we must be sure of our actions and motives before studying, researching, creating, developing, or implementing a new advancement. Consideration must be given to the results of our actions as a measure...
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Discrete Random Variables: Homework Exercise 1 Complete the PDF and answer the questions. |X |P(X = x) |X(P(X = x)... | |0 |0.3 | | |1 |0.2 | | |2 | | | |3 |0.4 | | a. Find the probability that X = 2. b. Find the expected value. Exercise 2 Suppose that you are offered the following “deal.” You roll a die. If you...
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| False | | | | | Question 3 0 out of 2 points | | | Fixed cost is the difference between total cost and total variable... cost. Answer | | | | | Selected Answer: | False | Correct Answer: | True | | | | | Question 4 2 out of 2 points | | | Parameters are known, constant values that are usually coefficients of variables in equations.Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | Question 5 2 out...
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Statistics – Lab Week 4 Name: MATH221 Statistical Concepts: * Probability * Binomial Probability... Distribution Calculating Binomial Probabilities * Open a new MINITAB worksheet. * We are interested in a binomial experiment with 10 trials. First, we will make the probability of a success ¼. Use MINITAB to calculate the probabilities for this distribution. In column C1 enter the word ‘success’ as the variable name (in the shaded cell above row 1. Now in that same column, enter...
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What are Segmentation Variables? To understand what segmentation variables in marketing are, it... helps to first know what market segmentation is. Market segmentation is the analysis of population demographics so they can be categorized in specific ways. These specific ways of categorization in market segmentation are why segmentation variables are needed and used. Four (4) groups of Segmentation Variables – 1. Geographic segmentation is based on variables such as: • Region: this kind of...
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Concept and basics of probability sampling methods One of the most important issues in researches is selecting an appropriate sample. Among... sampling methods, probability sample are of much importance since most statistical tests fit on to this type of sampling method. Representativeness and generalize-ability will be achieved well with probable samples from a population, although the matter of low feasibility of a probable sampling method or high cost, don’t allow us to use it and shift us to the...
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Exam 3 Study Guide Math 219 1. The probability that a randomly selected patient who visits the emergency room will die within 1... year of the visit is 0.05. (binomial probability distribution) a) What is the probability that exactly 1 of 10 randomly selected visitors to the ER will die within 1 year? b) What is the probability that fewer than 2 of 25 randomly selected visitors to the ER will die within 1 year? c) What is the probability that at least 2 of 25 randomly selected visitors...
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Question 1 . Parameters are known, constant values that are usually coefficients of variables in equations. Answer True False 2... points =T Question 2 . In general, an increase in price increases the break even point if all costs are held constant. . Answer True False 2 points =F Question 3 . Fixed cost is the difference between total cost and total variable cost. . Answer True False 2 points =T Question 4 . Probabilistic techniques assume that no...
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Channels of Distribution In the uncertain fluctuating market of today, it is essential for a company to hold on and face those uncertainties... in order to survive. Consumers can be an aid for a company's survival, thereby it is essential for consumers to get the goods of a company whenever and however they need them. Here is where distribution channels come in and give hand. "Channels of distribution are the different paths that goods passed through in moving from the producer to the consumer", (Meyer...
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What is psychology? = it is the scientific study of the mental processes' and behavior What is the mind? = the mind is the... means by which people perceive, think, and feel = mental processes. Behavior is simply what people do. Psychologists study the mind and behavior and anything that influences them, including childhood experiences, brain activity, genetics, friends and family, cultural norms, etc. Psy brings together many other disciplines eg. biology, philosophy, anthropology, computer...
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Modelling Probabilities on games of tennis Introduction: In this portfolio I shall investigate the different models and... probabilities based on the probabilities in the game of tennis. First I will start with the Part 1 of the portfolio where I will be concluding with the expected value and the standard distribution from my results. I will then take a look at the Non Extended play games where the highest of 7 points can be played. This is will be done with the use of binomial distribution. Then...
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accepted to be true and universal, and can sometimes be expressed in terms of a single mathematical equation" (Wilson). A scientific law encompasses a body... of observations and at the time it is made no exceptions have been found to it. (Helmenstine) Examples of scientific laws are the law of gravity, the law of thermodynamics, and Hook's law of elasticity. A scientific theory is "an explanation of a set of related observations or events based upon proven hypotheses and verified multiple times by detached...
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normal random variable is always equal to one. Answer: False Type: Concept Difficulty: Easy 2. For any normal random... variable, the probability that the random variable will equal one is always zero. Answer: True Type: Concept Difficulty: Medium 3. The graph of a standard normal random variable is always symmetric. Answer: True Type: Concept Difficulty: Easy 4. The formula will convert any normal distribution into the “standard normal distribution.” Answer:...
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B6014 MANAGERIAL STATISTICS Course Description: This course introduces students to basic concepts in probability and statistics of relevance... to managerial decision making. Topics include basic data analysis, random variables and probability distributions, sampling distributions, interval estimation, hypothesis testing and regression. Numerous examples are chosen from quality-control applications, finance, marketing and management. Type and Length of Exam: Open book, 3 hours, calculator such as HP-12C...
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Running head: VARIABLE COSTS Variable Costs ACC/561 June 12, 2012 Variable Costs Any cost which is not... fixed and will change in same amount when there is change in production volume is accounted as variable costs. This also means that they change in total rather than per unit whenever there is production or activity change. In production- labor, material or overhead could be the variable costs involved in the business. In Fitness center, there are different variable costs involved and...
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