Discussion on probability and normal distributions

Assignment Help Basic Statistics
Reference no: EM1392347

Can and how would you apply basic probability concepts to facilitate business decision making? Critically discuss the difference between discrete and continuous probability distributions? How would you apply the normal distribution to facilitate business decision making?

Reference no: EM1392347

Questions Cloud

Weighted average of the overall portfolio : How do I construct an example where I would be able to apply the concept of expected value to a problem (e.g. a financial investment problem would be a great way to demonstrate how various stocks in a portfolio produce a weighted average of the ov..
Probabilities of normal distribution : A survey for Hotels asked respondents "When traveling internationally, do you generally venture out on your own to experience culture, or stick with your tour group and itineraries?" The survey found that 23% of the respondents stick with their t..
Experiment in biochemistry and molecular biology : Estimate how much 1 M NaOH that is needed to adjust the pH of 200 ml of 0.2 M H3PO4 to pH 4.0, 6.82, and 9.0 . The pKa1, pKa2 and pKa3 of H3PO4 are 2.15,
Computing the coefficient of determination : Compute the coefficient of determination for bone loss and women's age and describe what this statistic means.
Discussion on probability and normal distributions : Can and how would you apply basic probability concepts to facilitate business decision making? Critically discuss the difference between discrete and continuous probability distributions?
Recognize complaints by stakeholders for cellphone towers : Use the Internet search engine to recognize the different complaints posed by stakeholders regarding cell phone towers.
Distribution of purchase amounts : Assume it is known that the distribution of purchase amounts by customers entering a popular retail store is approximately normal with mean $25 and standard deviation $8.
Chance variation-simple random sample of students : Last year, there were 30,000 students at a university; their GPA had a mean of 2.9 and an SD of 0.6. This year, in a simple random sample of 100 students taken from this university, the GPAs have a mean of 2.95 and an SD of 0.55. Has the mean GPA ..
Find articles about a macroeconomic problem : Find two articles about a macroeconomic problem currently in the news from either a newspaper or news magazine.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Explanation to expected return

Assume the risk-free interest is 5%. If WT borrows $100 million today at this rate and uses the proceeds to pay an immediate cash dividend, what will be the market value of its equity just after the dividend is paid, according to MM?

  Possibility of expanding the warehouse

Douglas Boats is considering the possibility of expanding the warehouse for the WM-4 motors. How much should Douglas Boats expand, and how much would it be worth for the company to make the expansion? Assume demand is constant throughout the year.

  Probability for sample mean under the normal distribution

A random sample of 100 oranges is gathered and the mean diameter obtained was 5.12. If another sample of 100 is taken, what is the possibility that its sample mean will be greater than 5.12 inches.

  Creating confidence interval for difference in mean

Create a 99 percent confidence interval for difference in means between Line B and Line C.

  How many trps did the advertiser buy

There are 5,000,000 Adults 25+ in Mtown. An advertiser buys a schedule on Channel 45: 20 spots in early news with an average A25+ quarter hour audience of 150,000, 25 spots in daytime with an average A25+ quarter hour audience of 200,000, and 10 s..

  Determine the estimated probability

Upon reviewing the accounting records from the restaurant, you discover that it grosses roughly $3000 per day on 6 out of 10 days. Determine the estimated probability that the restaurant will gross over $3000:

  Determining business travel-normal distribution

The Travel Weekly International Air Transport Association survey asked business travelers regarding the purpose for their most recent business trip.

  Estimating the standard error of the mean

When using the distribution of sample means to estimate the population mean, what is the benefit of using larger sample sizes?

  Find out the marginal probability density function

Find out the marginal probability density function for the provided value. Assume that two random variables, X and Y, have bivariate pdf given by:

  What is the probability sample mean

The mean television viewing time for Americans is 15 hours per week (Money, November 2003). Assume a sample of 60 Americans is taken to further investigate viewing habits. Suppose the population standard deviation for weekly viewing time is Q = 4..

  Computing probability that items will be good

Find out the following probabilities. Probability that exactly 27 items will be good.

  Simple linear regression model using excel

Make a forecast for 2004, using either the fitted trend model or a judgment forecast. Why is it best to ignore earlier years in this data set?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd