Probabilistic techniques assume that no uncertainty exists in model parameters. . Answer True False 2 points =F Question 5 . P(A | B) is the probability of event A‚ if we already know that event B has occurred. . Answer True False 2 points =T Question 6 . A binomial probability distribution indicates the probability of r successes in n trials. . Answer True False 2 points =T Question 7 . A continuous random variable may assume only integer values within
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in this case‚ the sample size is 64-bottles of beers are large enough to assume the distribution for a probability is approximately normal nπ=64(0.5)=32>5n1-π=641-0.5=32>5 Among the three new machines‚ the population mean was obtained at 16 ounces with a standard deviation of .16 ounces. By obtaining a Z-score at -.35 for the sampling distribution‚ it’s believed that the probability of the new machines producing a group of 64 bottles with a mean of 15.993 ounces will be 36.32% In another
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(d) No distribution is needed to answer this question Q2 The z-value is: (a) Between 0.0 and 0.5 (b) Between 0.5 and 1.0 (c) Between 1.0 and 1.5 (d) Greater than 1.5 (e) A z value is not used to answer this question Q3 The probability is (a) Greater than 0.1 (b) Between 0.01 and 0.1 (c) Between 0.001 and 0.01 (d) Between 0.0001 and 0.001 (e) Less than 0.0001 QUESTION 4-6 A Popular Tax in BC. When the BC Government introduced a carbon tax in 2008‚ it
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ISDS 361A Study Guide Chapter 7 * Discrete Random Variable = can take countable number of values / Continous = values are uncountable * Probability distribution: a table‚ a formula‚ or graph that describes the values of a random variable and the probability associated with these values. * Requirements of Probabilities P(x) = 1 ; Prob must lie between 0 and 1 * Population Mean = E(x) = (x)P(x) Population Variance =( x to the second power)P(x) – Mean squared * Standard Deviation
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Decision Sciences and Management Information Systems MBA 608 Statistical Models for Business Decisions Review for Class test #1 1. A summary measure that is computed to describe a characteristic from only a sample of the population is called a) a parameter. b) a census. c) a statistic. d) the scientific method. 2. The British Airways Internet site provides a questionnaire instrument that can be answered electronically. Which of the 4 methods
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Of course‚ if you recognized the fact that our standard Z-transformation accomplishes precisely this‚ you could write the transformation as . 1b. Find the probability that . Convert X into a standard normal via Z= . For X=18‚ Z=-1. For X=36‚ Z=.5. The probability that X is between 18 and 36 is thus equivalent to the probability of Z between -1 and .5. The latter term is F(.5)-F(-1)=.6915-.1587=.5328 1c. Supposing 5X‚ find the mean of . This is actually easier than 1a or 1b. μY =a+b
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T is a continuous random variable with probability density function (p.d.f.) f (t) and cumulative distribution function (c.d.f.) F (t) = Pr{T < t}‚ giving the probability that the event has occurred by duration t. G. Rodr´ıguez. Revised September‚ 2010 2 CHAPTER 7. SURVIVAL MODELS It will often be convenient to work with the complement of the c.d.f‚ the survival function ∞ S(t) = Pr{T ≥ t} = 1 − F (t) = f (x)dx‚ (7.1) t which gives the probability of being alive just before duration t‚ or
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CHAPTER 1 Individuals are the objects described by a set of data. Individuals may be people‚ but they may also be animals or things. A variable is any change of an individual. A variable can take different values for different individuals. A categorical variable places an individual into one of several groups or categories. A quantitative variable takes numerical values for which arithmetic operations such as adding and averaging make sense. The distribution of a variable tells us what values
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about the claims the website make for the rate of return‚ which are as follows: * Happy Bulls: As per the expected value of analysis there is a probability of 0.1 that Happy Bulls is giving a rate of return of value 1200 for the fast expanding economy. * Worried Bears: As per the expected value analysis‚ there is a probability of 0.2 that Worried Bear is giving a rate of return of Value (400) for an economy in recession. web case 2
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that red is the most popular. Scruffies are packed randomly‚ and on average 25% are red. (i) Find the probability that a packet contains no more than 6 red Scruffies. [2] (ii) Find the probability that a packet contains exactly 4 red Scruffies. [2] Because of a fault in the packing machine‚ one packet in ten now contains 19 Scruffies instead of 18. (iii) Find the new probability that a randomly selected packet contains exactly 4 red Scruffies. [5] In order to increase sales
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