What is a probability distribution and its purpose?
Distinguish between discrete and continuous probabilitydistributions. Give an example of each.
What is randomness? Assume you have an Excel worksheet of the dimension, A1:E101. The first row contains data labels. How would you randomize the data file and to select a
Determine the value of c that makes the function f(x,y) = c(x+y) a joint probability density function over the range:
x greater than 0 and less than 3 and x less than y less than x+2
a) P(X<1, Y<2)
d) P(X<2, Y<2)
g) Marginal probability distribution of X
h) Conditional probabilit
I need verified on the following questions. Please identify the correct answers.
The primary purpose of quantitative analysis should be to gain a greater understanding of the problem, not to automate decision making.
Managers do not need to be familiar with the limitations, assumptions, and
Define probabilitydistributions. Describe two common probabilitydistributions.
Looking for a good original (yet cited) response to this definition. And if you can describe two common ones with an example for each that would be great.
Please choose the correct answer and write briefly why.
A property of continuous distributions is that:
a. As with discrete random variables, the probability distribution can be approximated by a smooth curve
b. Probabilities for continuous variables can be approximated using discrete random variables
c. Unlike discret
You arrive at a bus stop at 10 o'clock, knowing that the bus will arrive at some time uniformly distributed between 10:00 and 11:00.
a) What is the probability that you will have to wait longer than 10 minutes?
b) If at 10:20 the bus has not arrived, what is the probability that you will have to wait atleast an additional 10 m
When is the mean the best measure of central tendency? When is the median the best measure of central tendency? Explain.
A researcher has determined that the distribution of annual salaries of NBA players is bell-shaped and symmetrical about the mean salary, do you think that introducing Michael
How the following statistical devices can be used in business today? Describe their usefulness and how businessman can be benefit, or how to help them in making sound decisions. (Explain individually)
--permutation and combinations
1. Consider a multiple choice examination with 50 questions. Each question has four possible answers. Assume that a student who has done the homework and attended lectures has a 75% probability of answering any question correctly.
a) A student must answer 43 or more questions correctly to obtain a grade A. What percentage