However if you roll a one‚ then all the points you won that turn are lost. Content Probability is any fraction or percent going from 0 to 1. There are two types of probability; theoretical probability is the probability of what should happen. The theoretical probability of getting heads when flipping a coin is ½. The other kind of probability is observed probability. This is when you take the probability
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is the probability that both outcomes are heads? Explain. Ans. P(H) = 1/2 Probability of 2 heads = 1/2 x 1/2 = 1/4 Q.2 Suppose that 25% of the population in a given area is exposed to a television commercial on Ford automobiles‚ and 34% is exposed to Ford’s radio advertisements. Also‚ it is known that 10 % of the population is exposed to both means of advertising. If a person is randomly chose out of the entire population on this area‚ what is the probability that he
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Theorem is a mathematical representation that helps one to calculate conditional probability. It relates inverse representation of the probabilities concerning two events. This theorem is named after the British Mathematician Thomas Bayes. It is represented by P(A‚ B)= P(A B) P(B) or P (A‚ B)=P(B A)P(A) So P(A|B)P(B) = P(B|A)P(A) The Law of Total Probability: P(B) = P(B/A).P(A) + P(B/A′) . P(A′) Total probability and multiplication rule: P(A/B) = P(B/A).P(A) (multiplication
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EPGDIB 2014-16 Business statistics class exercise 1 Business application problems of probability Q1)Arthur Anderson enterprise group /National small business united ‚Washington conducted a national survey of small business owners to determine the challenges for growth for their businesses. The top challenge selected by 46% of the small business owners was the economy. A close second was finding qualified workers (37%) .Suppose 15% of the small
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return is the weighted average of the estimated returns in the different states of the world‚ where the probabilities of each outcome are the weights. Each outcome is multiplied by its probability and all products are then summed together. Expected Return can be calculated with the following formula: [pic] where: [pic]: The expected rate of return - E(r) Pi : The probability of the i-th outcome. ri : The i-th possible outcome. n : The number of possible outcomes. The
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Mathematical Studies Project Probability of Blackjack Content Page Page Statement of task 2 Introduction 3 - 4 Data collection 5 - 6 The four Blackjack strategies 7 - 15 Conclusion 16 Bibliography 17
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answer. What is the probability that sheer guesswork yields exactly 10 correct answers at least 1 correct answer at most 1 correct answers 8 to 10 correct answers Mean and variance of the r.v.X=no.of correct answers 2. Suppose that airplane engines operate independently in flight and fail with probability 1/5. Assuming that a plane makes a safe flight if at least one-half of its engines run‚ which between a 4-engine plane and a 2-engine plane has the higher probability for a successful
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Assignment for International Business Critically evaluate McGregor’s Theory X and Theory Y. How far is it applicable to management and employee motivation in contemporary Chinese organizations? Student Name: Xin Guo ID 6511517 Module code: X10FCD I give permission for this paper to be used for future research and training purposes. Yes Critically evaluate McGregor’s Theory X and Theory Y. How far is it applicable to management and employee motivation in contemporary
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Theory X and Theory Y In his 1960 book‚ The Human Side of Enterprise‚ Douglas McGregor proposed two theories by which to view employee motivation. He avoided descriptive labels and simply called the theories Theory X and Theory Y. Both of these theories begin with the premise that management’s role is to assemble the factors of production‚ including people‚ for the economic benefit of the firm. Beyond this point‚ the two theories of management diverge. Theory X Theory X assumes that the average
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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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