Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Probability - Term Paper Example

Comments (1) Cite this document
The distribution models reflect a statistician’s assumption on how variable values are possibly distributed in a population. Based on sample data and assumptions on the population distribution, inferences are…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95% of users find it useful
Read TextPreview

Extract of sample "Probability"

Download file to see previous pages Statistics use assumption on population distribution to estimate population values based on sample values (Kemp & Kemp 257-66). Probability distributions functions or simply distribution functions are used (Soong 39-41). The distribution function associates a variable value with a probability (Soong 39). This can take the form Fx(x) =P(Xx) where the lowercase x refers to a specific value of a variable. Probability distribution functions have shapes represented by the mathematical equations. The areas under the curves or distribution functions are associated with probabilities.
In business statistics, some of the distribution functions that are often used are the Z-statistics, t-statistics, chi-square distribution, and the F-statistics (Kemp & Kemp 47-297). There is also an option to use what statisticians call as the non-parametric statistics (Kemp & Kemp 298-315). The choice of what distribution functions to use are determined by convention or typical practice and theory. For example, in estimating the population mean, it is assumed that the sample mean converge to the population mean through repetition of sampling procedures or if the population is large. Thus, in estimating the mean, statistics usually makes the assumption based on a normal distribution. Although several distribution functions are used in statistics, in this work we focus our sights on three: the z-statistics, the t-statistics, and the chi-square statistics.
Figure 1 captures a standard normal distribution function. The standard normal distribution associates a value of a variable with probability. For example, the probability that the value of the variable is between a very low number and high number can be represented by 100%. In the language of statistics, this take s the form P (-< x < +) = 1 or 100%. In other words, this means that in a ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Probability Term Paper Example | Topics and Well Written Essays - 1750 words”, n.d.)
Probability Term Paper Example | Topics and Well Written Essays - 1750 words. Retrieved from
(Probability Term Paper Example | Topics and Well Written Essays - 1750 Words)
Probability Term Paper Example | Topics and Well Written Essays - 1750 Words.
“Probability Term Paper Example | Topics and Well Written Essays - 1750 Words”, n.d.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
sabernathy added comment 11 months ago
Student rated this paper as
The topic of "probability" was tough to find. I spent too much time to find it. Here at StudentShare, I got the best sample. Many thanks!



...(absorbing), recurrent, aperiodic (ii) This Markov chain doesn't have a unique stationary distribution because it consists of two disjoint chains. When one enters one chain, it cannot leave this chain. (b) B = book; C = cinema; G = golf; T = theatre (i) (ii) One weekend, Stephen reads a book. What is the probability that he goes to the theatre the next weekend' ANSWER: What is the probability that he goes to the cinema in two weeks' time' ANSWER: What is the probability that he goes to the theatre next weekend and goes to the cinema in two weeks' time' ANSWER: (iii) PROPORTION: a. reading a book b. going to the cinema c. playing golf d. going to...
3 Pages(750 words)Math Problem


...the portfolio monthly? How often tracked? Response Daily 235 Weekly 278 Monthly 292 Few times a year 136 Do not track 59 Hence there is a 29.2% probability that an investor tracks the portfolio, every month. Section 3.2: Conditional Probability and the Multiplication Rule 3. a. In a battleground state, 36% of all voters are Republicans. Assuming that there are only two parties - Democrat and Republican, if two voters are randomly selected for a telephone survey, what is the probability that they one is a Democrat followed by a Republican? Round your answer to 4 decimal places. The probability that the first person chosen is a democrat = 64% Now, the...
2 Pages(500 words)Statistics Project


.... It means that is there is nothing certain and exact associated with an event, and that happenings are uncertain and there are probabilities that are associated with them. Probability can be defined as the study that is concerned with locating certainty in uncertain events. Probability is known as the method of weighing evidence and opinion about uncertain and complex environment. Christiaan Huygens is supposed to be the first person to treat probability with scientific principles to provide a more refined form of the term in the year of 1657. There are several functions of probabilities. Distributions are considered one of them. These functions are used to assign the possible and probable events to the entire series of the events...
6 Pages(1500 words)Essay


... to incorporate a duplicate set of components, than a task will fail if both of the same task simultaneously breaks down (Both B1 and B2 fails or Both C1 and C2 fails, or Both D1 and D2 fails). Let the probability of at least one component of B, C and D is working is given by P(BW), P(CW) and P(DW), respectively. Therefore, All tasks (A1, BW, CW, and DW) are independent tasks. Therefore, the probability that the machine completes its process from start to finish after incorporating duplicate set of components for tasks B, C and D is The duplicate set of components amendments will improve the performance of the machine to about 82.84% that is now the machine efficiency is about 82.84%. iii. The machine efficiency heavily depends on the first...
4 Pages(1000 words)Coursework


...= the possibility 6/48, 7/48 After showing of the cards, the following are the probability= 6 diamonds occurring= 6/48 = 3 diamonds occurring= 3/48 7 diamonds occurring= 7/48 From this calculation, there is little possibility, (3 of 52,) of three coming up again. Probability also do not repeat itself and therefore the probability of three coming up again is still little if reasoning from the same line of thought. This therefore supported my need to continue playing because I knew my down cards could come up instead of the three of diamonds. The possibility of 4 flower coming up again is nil, because the 4 only occurs once. The possibility of the 9 coming up again is also...
1 Pages(250 words)Speech or Presentation

Discuss the benefits of probability in the career you have chosen and how probability techniques will be beneficial to you

...TWE <Probability Techniques> and Section # of Advantages of Probability Probability is often used to portray an approach of mind towards some attitude of mind towards some scheme of whose actual truth we are not sure of (Stuart, 2009). In simple words it can be defined as the chance of any occurrence happening. The importance of probability can be seen in our everyday life, even though we don’t, at times appreciate its applicability but it is always there around the corner, waiting for us to utilize it. The use of probability has really helped me as the head basket ball coach of an upper league division. The use of probability was introduced to me by my assistant coach who explained how I can use the magic of simple math to predict...
1 Pages(250 words)Essay

Probability Assignment

... A 7-card hand is chosen from a standard 52-card deck. a. How many of these will have four spades and three hearts? Number of ways to pick four spades = 13 C 4 = 715 Number of ways to pick three hearts = 13 C 3 = 286 Therefore, there would be [13 C 4 * 13 C 3] = 204,490 b. What is the probability that we draw a hand composed of precisely four spades and three hearts? Number of ways to pick 7 cards randomly: 52 C 7 = 133,784,560 Therefore, probability = [13 C 4 * 13 C 3] / (52 C 7) = 0.001528 (2) A committee of 3 people is to be selected from a group of 8 people, which includes 4 married couples. If the committee cannot contain more than one member of any married couple, how many 3-person committees are possible...
2 Pages(500 words)Speech or Presentation


.... An offspring therefore, independently, and randomly, derives one of each pair of chromosomes from each of the parents. Probability therefore helps to understand chances and possibilities of genetic compositions of offspring based on their parents’ genetic compositions (Olofsson, p. 56). This paper seeks to investigate probabilities of outcomes of events in tossing two sided coins. The paper will explore and compare the experimental and theoretical probabilities from tossing the coins for conclusions over inheritance of genes. Methods The experiment was conducted by repeatedly flipping a coin. With twenty events, observations were made for head, tail, and frequencies recorded. The experiment was repeated with two simultaneous tosses...
2 Pages(500 words)Lab Report

Probability Games

...of eleven heads and nine tails. Although flipping a coin is said to have an equal chance of coming up on either side, one’s experience did not have such a result. This may be due to the fact that the experiment was only made twenty times. According to frequentists, “the probability of getting a heads is 1/2, not because there are two equally likely outcomes but because repeated series of large numbers of trials demonstrate that the empirical frequency converges to the limit 1/2 as the number of trials goes to infinity” (, n.d.). ` When one played the dice roll, one realized that the outcomes are much more than the coin flip because each die has six sides. The other die has also six sides; thus, rolling the...
2 Pages(500 words)Essay

Probability Distributions

... of strategies employed by organizations. Moreover, the statistical findings influence the planning and allocation of resources within organizing. For criminal justice agencies, the crime reports provide critical information used for evaluating crime levels. The public use the statistics to hold the individual and agencies in the criminal justice system accountable for the state of security in the country. Question 2.B. Critical decisions within organizations concern the future. However, the unpredictability of the future makes it had to make good decisions. Consequently, mangers of these organizations must make apt prediction about the future based on some assumptions. This requires knowledge of uncertainty, which is the probability...
6 Pages(1500 words)Assignment

The Introduction to Probability

..., a member of the society had a probability of dying of 0.00747. The second part of the compound probability shows that for every 100000 people in the population, 740 died in the year 2011 with the implication that each person had a probability of 0.00741 of dying in the year 2011. The compound probability however offers a basis for comparing probability of death in the society and indicates that people had a lower likelihood of dying in the year 2011 as compared to their probability of dying in the year 2010. This offers a basis for understanding factors affecting death rates towards improving people’s welfare and increasing life...
1 Pages(250 words)Essay

Non-probability Samples in Management Research probability sampling. The outcomes of probability sampling are more likely to give a fairly accurate representation or reflection of the entire population. It is imperative that researchers consider the availability, time, cost, and the subject to research about when choosing a sampling technique (Rubin & Babbie 2011, pg12). Probability sampling has gained vast popularity among scholars in both fields of quantitative and qualitative study. Overall, researchers or project managers would employ non-probability in the survey while holding on to a basic assumption that the entire population has evenly distributed characteristics. In this case,...
8 Pages(2000 words)Essay


... the ranking of the judges based on P (A) From figure 1 above it is evident that Judge Angela is the best performing judge in the Common Pleas Court followed by Richard then Rosalyn comes in third. However, based on this ranking Judge Hellen comes in last followed by Paul, who comes in second last and finally Dianne was third last based on the probability of appeal. Table 2: Ranking Based on the probability of cases being reversed for each judge. Judge Disposed Reversed P(R) Rank by P(R) John W. Sweeny Jr. 3211 2 0.00058 1 Angela M. Mazzarelli 5231 5 0.00111 2 David Friedman 3431 4 0.00124 3 Richard T. Andrias 2176 8 0.00153 4 Karla Moskowitz 3215 5 0.00156 5 Dianne T. Renwick 1236 2 0.00159 6 Rolando T. Acosta 1567 8 0.00233 7 David B...
8 Pages(2000 words)Essay

Quantum probability communications

.... References Attal, S. & Lindsay, J. (2003). Quantum probability communications. River Edge, NJ: World Scientific. Biech, E. (2014). ASTD handbook. Alexandria, VA: ASTD Press. Brace, I. (2008). Questionnaire design. London: Kogan Page. Burke, A. (2002). Career planning. Hollywood, FL: Frederick Fell Publishers. Chan, W. K. (2015). Higher education and graduate employment in china: challenges for sustainable development. Higher Education Policy, 28(1), 35-53. Dix‐Carneiro, R. (2014). Trade liberalization and labor market dynamics. Econometrica, 82(3), 825-885. Frank Qu, Z. & Zhao, Z. (2014). Evolution of the Chinese rural-urban migrant labor market from 2002 to 2007. China Agricultural Economic Review, 6(2), 316-334. Gertler, P...
13 Pages(3250 words)Essay

The Understanding of Probability a logical decision making process. Uncertainty which means knowing just a little of what might probably happen triggers much wider and deeper understanding of the value of numbers among those concerned individuals who are trying to make certain decisions. For instance, computation of probabilities based on the actual random samples from an entire class or population can be viewed much of a representation. This can be meaningful knowing the fact that drawing a sample from a certain population in which every entity has equal chance of being drawn can be viewed reliable in explaining the entire sample. In this paper, I gave light on the value of probability which will fall to what...
6 Pages(1500 words)Assignment

Probability and Inferences in Statistics

..., the chi-square statistics are used for inferential statistics related to correlations and associations. These are only some of the distributions but they indicate nevertheless the value of probability distribution for inferences in statistics. I. Introduction In making inferences on the population based on sample characteristics, man used probability distribution or probability density functions (McClave et al. 172-173; Schaum 55). Probability distributions or density functions associates a numeral to a probability value. Probability density functions are curves represented by mathematical equations that best capture the characteristics of the curve. In turn, the curves or the areas under the curve are associated with probability level...
6 Pages(1500 words)Term Paper

Business Statistics and Use of Probability for Inference

..., man uses probability distribution functions that express a set of assumptions on how variable values are probably or possibly distributed across a population. The assumptions help man to make inferences on the population based on sample characteristics. The assumptions or the probability distribution functions allow man to associate variable values with probabilities. In other words, inferences on population characteristics associate or attach probabilities with regard to variable values in the population using certain assumptions (or which amount to the same thing: the use of a specific probability distribution function). At the same time, there is a class of statistics known as nonparametric statistics. Nonparametric statistics makes...
6 Pages(1500 words)Term Paper

Statistics and Probability in Business

.... For this the managers of business need to take informed decisions and the information has to be derived from nowhere but from the data relevant to the business. It is here that statistics and probability comes to help them. Statistics is the branch of knowledge that processes data to discern hidden information, reveal patterns and extract executable results [1]. One can get lot of information by simply arranging data in frequency and relative frequency tables [2]. One can get a good idea of central tendency and dispersion of the data set. The organized dataset can also be represented pictorially as histograms, line charts etc. It is said that a picture is worth thousand words. This is because; even a person with common sense can see...
11 Pages(2750 words)Dissertation

Probability in Facebook: Like and Share Feature

...Probability in facebook Introduction and background information Developments in information technology has changed means of communication and led to a shift from traditional communication media to information technology based approaches. Mass communication for instance initially involved a prior announcement for awareness among the target audience or the use of media such as televisions, radios and the print media that had their own limitations. The social media has however developed to replace the originally used communication methods. The avenue that connects people across different barriers such as age and geographical boundaries is the most contemporary means of communication as is identified by its many followers. Examples of social...
7 Pages(1750 words)Case Study

The Application of Probability in the Game of Poker

.... It is played with a deck of fifty two cards. The ranks of a player’s cards and the combinations of these cards help determine the winner. In order to win big, players risk larger sums of money, hoping that they do not lose. Therefore, poker, just like any other gambling activity, is purely based on chance. In mathematics, one of the widely covered topics is probability, which is the study of the likelihood of an event occurring. For this reason, poker is directly related to this mathematical concept because outcomes are based on chance. Although most people question the importance of studying mathematics in school, the application of mathematical concepts in the real world are varied. Probability, which...
12 Pages(3000 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic Probability for FREE!

Contact Us