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

Probability Analysis - Assignment Example

Cite this document
Summary
This assignment "Probability Analysis" presents a value histogram that means that it does not involve intervals. A histogram bar of 20 represents people aged 20, not from 20 to 30. Therefore the percentage of individuals below the age of 35 will be the individuals below 40…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.8% of users find it useful
Probability Analysis
Read Text Preview

Extract of sample "Probability Analysis"

1. It’s a single value histogram that means that it does not involve intervals. A histogram bar of 20 represents people aged 20, not from 20 to 30. Therefore the percentage of individuals below the age of 35 will be the individuals below 40 (since it’s a single value histogram): Number of people below 35 = 3+18+13= 34 Percentage of people below 35 = (34/50)*100= 68% 2. The histogram is skewed to the right. This is because its right tail is longer than its left tail. This is also due to the reason that the tail on the right is more positive than the tail on the left. Furthermore this is also due to the fact that values with higher frequency lie to the left making the histogram right skewed. 3. Mean = (10*3 + 20*18 + 30*13 + 40*6 + 50*5 + 60*3 + 70*1 + 80*0 + 90*1)/50 = 1610/50 = 32.2 4. The media calculation is as follows: 50/2 = 25th value = age 30 5. The mean will increase since the mean is affected by extreme values of a data set. Calculation shows it: New mean = (10*3 + 20*18 + 30*13 + 40*6 + 50*5 + 60*3 + 70*1 + 80*0 + 900*1)/50 = 2420/50 = 48.4 However the median will stand unaffected, since the media is the middle value of the data set, it is based on the number of recorded observations not on the value of recorded observation. There for the since the number of observation under each condition is 50 the median is as follows: 50/2 = 25th value = age 30 6. The events A and B are mutually exclusive since the chances of heads coming on the first toss is not related to or has an impact on the chances of heads coming on the fifth toss, therefore the two events stand mutually exclusive. 7. The events A and B are independent since the heads occurring on the first toss doesn’t have an impact on the probability of heads occurring on the fifth toss. 8. Mean = (110+95+131+257+118+153)/6 = 144 X X-Mean (X-Mean)^2 110 -34 1156 95 -49 2401 131 -13 169 257 113 12769 118 -26 676 153 9 81 Standard Deviation = [(∑ (x-Mean)^2)/n-1)]^1/2 = (17252/49)^1/2 = 18.76 9. One of the movie length of 257 appears to be unusual, it is significantly different form all the other values. It appears more like an outlier in the data set. 10. Big Burg has greater variability since its values are more dispersed than that of tiny town. The values of tiny town range from approximately 30 to 130 while that of Big Burg range from 20 to beyond 140. 11. Big Burg. This is because it has greater magnitude of values beyond $85000 and over. 12. Big Burg. This is because the width of the Box Plot shows that Big Burg shows that there are more real estate values from $ 55000 to $85000. 13. 99% confidence interval: Mean ± Z (standard deviation/(n)^1/2) Mean = 182.5 pounds SD = 22.5 pounds Z value = 2.565 Lower CI = 172.45 pounds Upper CI = 192.54 pounds 14. Students in French class only = 12 Students in Spanish class only = 15 Probability of student being picked form single class = (12+15)/500 = 0.054 15. Student in Spanish class also in French class = 17/500 = 0.034 16. No. of elements in the sample space = 10 17. Probability that all elements are not all the same = 3((1/10)*(1/10)*(9/10)) = 0.027 18. Probability that all three numbers drawn are different = 3 ( ( 1/10)*(9/10)*(8/10)) = 0.216 19. Expected Value of X = (-3*0.08)+(-2*0.11)+ ( 4*0.28) + (6*0.12) +(7*0.41) = 4.25 20. Standard Deviation = [(∑(x-mean)^2(P(x))/N]^1/2 = [11.9875/5]^1/2 = 1.548 21. Probability of having enough seats = 10/12 = 0.8333 22. Passengers expected to show up = 0.80*12 = 9.6 since passengers are not in decimal this will be rounded up to 10 passengers. 23. It is a left tailed test. Z-value from table for significance level of 10% = -1.275 Z-value calculated = (Sample mean- Population mean)/(sample standard deviation/n^1/2) = (726.2-750)/(85.3/(22^1/2)) = -1.308 Since the z- value calculated lies in the rejection region i.e. its smaller than -1.275 therefore we reject Ho. This means that the population mean is not 750. 24. Probability tire lasts longer than 38100 miles= 1-(probability(x≤38100)) = 1-probability ((38100-30000)/5000) = 1- 0.9474 = 0.0526 25. Numbers of tires within 33800 and 27500 miles. P(27500 Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Homework assignment Example | Topics and Well Written Essays - 1500 words”, n.d.)
Homework assignment Example | Topics and Well Written Essays - 1500 words. Retrieved from https://studentshare.org/statistics/1596737-homework-assignment
(Homework Assignment Example | Topics and Well Written Essays - 1500 Words)
Homework Assignment Example | Topics and Well Written Essays - 1500 Words. https://studentshare.org/statistics/1596737-homework-assignment.
“Homework Assignment Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.org/statistics/1596737-homework-assignment.
  • Cited: 0 times

CHECK THESE SAMPLES OF Probability Analysis

Stock Market Efficiencies

The author states that technical analysis cannot be used to predict and beat the market.... Proponents of this form of market efficiency claim that fundamental analysis can be used to identify stocks that are undervalued and overvalued enabling research by investors looking for profitable companies to invest in the semi-strong form of efficiency.... The concept claims only non-publicly available information can be used by investors to earn abnormal returns on their investments as all the other remaining information is accounted for in the prices of the stocks and no fundamental or technical analysis will result into above-normal returns....
5 Pages (1250 words) Assignment

How to Perform and Interpret Regression Analysis

The results of a statistical and Probability Analysis conducted using the database provided by a company indicate that; 1.... An essay "How to Perform and Interpret Regression analysis" outlines that regression analysis is a statistical tool for the investigation of relationships between variables.... How to Perform and Interpret Regression AnalysisRegression analysis is a statistical tool for the investigation of relationships between variables....
2 Pages (500 words) Essay

Statistics for Job Satisfaction

This assignment "Statistics For Job Satisfaction" discusses how each and every organization is faced with people's challenges.... How do you get the public moving in the right direction?... Start where they are.... The first step is to provide feedback to employees from their current point of view....
7 Pages (1750 words) Assignment

Evalutating country risk analysis

Since risk implies identification of a well defined event from a large number of observations which is amenable to Probability Analysis, lack of the same results in basing CRA on uncertainy.... Country Risk analysis (CRA) has thus emerged as a measure to identify the imbalances that can arise through cross border investment.... Problems of Quantitative and Qualitative MethodsCRA include a mix of qualitative and quantitative analysis....
4 Pages (1000 words) Essay

Descriptive Statistics And Its Usefulness

They are used to summarize the data and with the techniques of graphical analysis they form the basis of quantative analysis and other analytical measures.... This paper "Descriptive Statistics And Its Usefulness " talks about the advantages that people and organization could gain by depending on the techniques of descriptive statistics providing various examples from every day life to ascertain the importance of statistics in our day to day affairs....
7 Pages (1750 words) Research Paper

Risk Control and Monitoring

Risk control and monitoring is an important area of project management because it helps to locate and plan resources taking into account Probability Analysis and possible risks.... Monitoring could come in Project X Risk control and monitoring is an important area of project management because it helps to locate and plan resources taking into account Probability Analysis and possible risks.... Ineffective risk analysis leads to failure of the project and threatens its outcomes....
2 Pages (500 words) Essay

Chi-square Distribution

It is mentioned that hypothesis is the first stage in Probability Analysis where assumptions are made towards the outcome and set the base for testing the variables.... These three are most of the time used together since they are just the components of Probability Analysis.... The author of this essay "Chi-square Distribution" casts light on the software sales analysis.... We consider the three techniques of hypothesis testing, parametric analysis and multivariate....
5 Pages (1250 words) Essay

Article abstract assignments

Lee's review distinguish the different levels of competitive balance in the leaguesThe author explains the different aspects and factors affecting variations in performance and competitive balance, but used Probability Analysis in some parts instead of facts.... Theoretically, Lee proves the use of analysis of Competitive Balance in the National Football League after the 1993 Collective Bargaining Agreement by TravisLeeTravis Lee' (2010) article on National Football League is an investigation of the overall parity effects that result from the 1993 Collective Bargaining Agreement by determining the correlation among free agency, payroll constraints, league rule, parity, and competitive balance (NFL) (77-78)....
1 Pages (250 words) Essay
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.
Contact Us