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1. Describe the rationale for utilizing probability concepts. Is there more than one type of probability? If so, describe the different types of probability.
2. Briefly discuss probability distributions. What is a normal distribution? Please provide a written example of how 'understanding distribution' can be an asset for any business project.
modelise as a markov chain
Assume that in healthy American men the level of hemoglobin is normally distributed with mean ?=14 and standard deviation?=1.1.
An urn contains 7 blue and 3 yellow chips. If the drawing of chips is done with replacement, determine the probability of: Drawing three yellow chips.
The general manager of a business encounters many different types of business transactions. Provide an example for each of the following transactions that would describe the effect on the accounting equation.
Descriptive statistics showing the relationship between total gross sales and each of the other variables. Please provide an explanation of the relationships.
Scholarly writers are aware of their audience and base their writing on solid evidence rather than on assumptions and/or opinions. In addition, scholarly writers must also utilize a scholarly voice.
What is the purpose of developing a frequency distribution? What is the relationship between the relative frequency and the cumulative frequency?
Given the following information, determine the equation for the unit formulation. It cost a contractor $9,765 to manufacture their first unit. The company expects to experience an 82% unit learning curve. Estimate the cost of the 7th unit.
Plan the analysis
Create a counter argument against the use of CRAs in your current (or future) workplace. Discuss the ethical principles involved in the use of CRAs. Create at least one (1) other option besides CRAs that would address workplace romances.
What shape would the probability distribution have for (a) completely certain returns and (b) completely uncertain returns?
o This is a linear model. If your model needs a different engine, then you need to rethink your approach to the model. Remember, there are no IF, Max, or MIN statements in linear models.
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