companies and the probability of getting a job offer there. These data are tabulated below. The tabulation is in the decreasing order of cost. 1. If the graduate applies to all 10 companies‚ what is the probability that she will get at least one offer? 2. If she can apply to only one company‚ base on cost and success probability criteria alone‚ should she apply to company 5? Why or why not? 3. If she applies to companies 2‚5‚8‚ and 9‚ what is the total cost? What is the probability that she will
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DATA MINING FOR POTENTIAL CUSTOMERS: East – West Airlines/Telcon Jermaine Paul 12/12/2013 BUSINESS PROBLEM East-West Airlines (EA) is entering into partnership with the cellular service provider‚ Telcon‚ by marketing their service through direct mail. In order to achieve this‚ EA dataset is provided to categorize their customers to identify which ones would be likely to purchase Telcon’s services through direct mail. If the accurate categorization is done the partnership will save
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Network Architecture to Identify Spatial Knowledge for Epidemic (An application of datamining) Abstract: Recent developments in information technology have enabled collection and processing of vast amounts of personal data‚ business data and spatial data. It has been widely recognized that spatial data analysis capabilities have not kept up with the need for analyzing the increasingly large volumes of geographic data of various themes that are currently being collected and
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Case study Simulation of data To illustrate usage of Zebu‚ data simulated using a bayesian network will be used. The example presented in figure 1 is borrowed from Pearl [25]. Five thousand cases with 5% of missing data was simulated using SamIan. To illustrate how Zebu handles continuous variables‚ calcium concentrations were simulated. ”Not increased” cases were randomly sampled from a normal distribution with mean 2.4 and standard deviation 0.05. ”Increased” cases were randomly sampled from an
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This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: The Economics of Aging Volume Author/Editor: David A. Wise‚ editor Volume Publisher: University of Chicago Press Volume ISBN: 0-226-90295-1 Volume URL: http://www.nber.org/books/wise89-1 Conference Date: March 19-22‚ 1987 Publication Date: 1989 Chapter Title: A Dynamic Programming Model of Retirement Behavior Chapter Author: John P. Rust Chapter URL: http://www.nber.org/chapters/c11588
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Probable Probability; Rolling Dice Statistics is based upon based upon common sense and logic‚ in a complex data. Probability is just one of the many topics in statistical mathematics. It is used in our daily life‚ all over the world. Even games‚ require taking a chance and using probability to determine the predicted outcomes. Probability is the measure of how often a particular event will happen if something is done repeatedly‚ (596 Webster’s Dictionary). You cannot determine
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Probability Theory and Game of Chance Jingjing Xu April 24‚ 2012 I. INTRODUCTION Probability theory is the mathematical foundation of statistics‚ and it can be applied to many areas requiring large data analysis. Curiously‚ that the study on probability theory has its root in parlor games and gambling. In 17th century‚ dice gambling was a very common entertainment among the upper class. An
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Chapter 6 Continuous Probability Distributions Case Problem: Specialty Toys 1. Information provided by the forecaster At x = 30‚000‚ [pic] [pic] Normal distribution [pic] [pic] 2. @ 15‚000 [pic] P(stockout) = 1 - .1635 = .8365 @ 18‚000 [pic] P(stockout) = 1 - .3483 = .6517 @ 24‚000 [pic] P(stockout) = 1 - .7823 = .2177 @ 28‚000 [pic]
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The Poisson probability distribution‚ named after the French mathematician Siméon-Denis. Poisson is another important probability distribution of a discrete random variable that has a large number of applications. Suppose a washing machine in a Laundromat breaks down an average of three times a month. We may want to find the probability of exactly two breakdowns during the next month. This is an example of a Poisson probability distribution problem. Each breakdown is called an occurrence in Poisson
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14. If x has the probability distribution f(x) = 12x for x = 1‚2‚3‚…‚ show that E(2X) does not exist. This is famous Petersburg paradox‚ according to which a player’s expectation is infinite (does not exist) if he is to receive 2x dollars when‚ in a series of flips of a balanced coin‚ the first head appears on the xth flip. 17. The manager of a bakery knows that the number of chocolate cakes he can sell on any given day is a random variable having the probability distribution f(x) = 16 for x =
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