Subject CT3 Probability and Mathematical Statistics Core Technical Syllabus for the 2014 exams 1 June 2013 Subject CT3 – Probability and Mathematical Statistics Core Technical Aim The aim of the Probability and Mathematical Statistics subject is to provide a grounding in the aspects of statistics and in particular statistical modelling that are of relevance to actuarial work. Links to other subjects Subjects CT4 – Models and CT6 – Statistical Methods: use the statistical concepts
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Chapter 11: Counting Methods and Probability Theory Test Review Name___________________________________ Date________________ Solve the problem by applying the Fundamental Counting Principle with two groups of items. 1) A restaurant offers 8 entrees and 9 desserts. In how many ways can a person order a two-course meal? 2) An apartment complex offers apartments with four different options‚ designated by A through D. 1) 2) A = number of bedrooms (one through four) B = number of bathrooms (one through
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Conclusion This Project has been very useful to me because I learned how to prepare cash flow statements and ratio analysis. This has improved my knowledge on financial statements which is very useful in business and commerce ever day. The work I did in this project has helped me to understand the techniques‚ applications and usefulness of financial statements to understand the performance of a particular company or enterprise without much difficulty and also understand how to prepare them in future
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TEM1116 Probability and Statistics Tri1 2013/14 Chapter 1 Chapter 1: Discrete and Continuous Probability Distributions Section 1: Probability Contents: 1.1 1.2 1.3 1.4 1.5 Some basics of probability theory Axioms‚ Interpretations‚ and Properties of Probability Counting Techniques and Probability Conditional Probability Independence TEM1116 1 TEM1116 Probability and Statistics Tri1 2013/14 Chapter 1 1.1 Basics of Probability Theory Probability refers to the study
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Theoretical vs. Empirical Probability Probability- describes the chance that an uncertain event will occur. Empirical Probability - estimate that the event will happen based on how often the event occurs after collecting the data or running an experiment. It is based specifically on direct observation or experiences. Empirical Probability Formula P(E) = probability that an event‚ E‚ will occur. Top = number of ways the specific event occurs. Bottom = number of ways the experiment
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consecutive points falling on one side of the centerline When the process is in statistical control‚ find the false alarm probability (Type-I error) for each case. The corresponding probability measures are obtained from the Normal table as P(3 " Z) = 0.00135 P(2 " Z) = 0.02275 P(1 " Z) = 0.1587 Solution: ! i) Use the Binomial distribution to ! calculate the probability measures. ! 3! 3! P(Y ! 2 n = 3‚ p = 0.02275) = (0.02275)2 (1" 0.02275) + (0.02275)3 = 0.00153 2!1! 3!0! Type-1
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“The consequences of behavior determine the probability that the behavior will occur again” - B.F. Skinner. This theme is proven time and time again as Skinner tested his theories with a wide range of subjects. Famous for his research in operant conditioning‚ Skinner developed a machine designed to show the responses of his tests as a sloped line. Using this device‚ Skinner discovered that behavior was not dependent upon the preceding action but rather was heavily influenced by the response after
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Deductive Reasoning In order to fully understand deductive reasoning‚ there are certain points to be noted. First‚ what is the nature of deductive reasoning? Logical strength is defined as the property of an argument whose premises‚ if true provide support for its conclusion. Deductive and inductive arguments are also distinguished based on the point that logical strength is a matter of degree. This distinction makes it necessary to understand the nature of deductive reasoning. Therefore‚ deductive
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Probability of Things I Do They’re many things in life that involve the uses of probability and it is apparent that it is used in everyone’s life today including myself. While people think math is irrelevant after graduation‚ statistics is heavily used especially in regards to probability. While people do many things‚ some of mine that deal with probability are playing a game of pool‚ as well as the probability of how many games our football team has a chance of winning‚ and another example
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Research Title The Use of a Bow and Arrow to Test the Probability of Bull’s-Eyes Introduction Scientists throughout the years have always had thoughts of the numerous possibilities that would erupt from their experiment. Measurements made during the experiment causes the set of probabilities to immediately and randomly assume one of the possible values. This was stated by the Copenhagen Interpretation whose essential concepts were devised by Niels Bohr‚ Werner Heisenberg and others in the years
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