StudentShare
Search

# Probability and Inferences in Statistics - Term Paper Example

Summary
In this work, Probability and Inferences in Statistics, the author explored the role of probability in inferential statistics. The man has discovered several probability distributions. Some of these probability distributions include the binomial, hypergeometric, normal, chi-square…

## Extract of sample "Probability and Inferences in Statistics"

Download file to see previous pages The t-statistics are used for inferential purposes involving small samples or where the population variance is unknown. Finally, 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.
In making inferences on the population based on sample characteristics, a man used probability distribution or probability density functions. 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 a probability level or probabilities.
Some of the probability density functions that are used in statistics are the binomial, hypergeometric, Poisson, normal and the chi-square distributions. In using any of the probability density function, a statistician assumes that the distribution represented by the probability density function best captures how the population or the data of the population is distributed. Alternatively, at least, the statistician assumes or believes that the distribution represented by the probability density function is most useful for him or her to infer population characteristics based on sample characteristics.
Among several probability density functions used in statistics, some of the more widely used are the normal distribution, the chi-square distribution, the F-distribution, and the binomial distribution. In this work, we focus on three probability density functions: two types of a normal probability density function and the chi-square distribution. The types of normal distribution are the standard normal and the t-distribution. ...Download file to see next pagesRead More
Cite this document
• APA
• MLA
• CHICAGO
(Probability and Inferences in Statistics Term Paper, n.d.)
(Probability and Inferences in Statistics Term Paper)
Probability and Inferences in Statistics Term Paper. https://studentshare.org/statistics/1736852-probability-as-a-confidence-measuring-tool-for-statistical-inference.
“Probability and Inferences in Statistics Term Paper”, n.d. https://studentshare.org/statistics/1736852-probability-as-a-confidence-measuring-tool-for-statistical-inference.
Click to create a comment or rate a document

## CHECK THESE SAMPLES OF Probability and Inferences in Statistics

### Probability

...TMA M343 02 QUESTION a) (i 2) (3) (ii) (iii) (iv 2) (3) (v) (b) K QUESTION 2 QUESTION 3 (a) A good example of a simple random walk with two reflecting barriers is the movement of an elevator in a 10 storey building. Once the elevator reaches the ground floor, it will have a 100% probability of going up, and when it reaches the 10th floor, it will have a 100% probability of going down. The elevator goes up and down at discrete intervals. Reflection at the barriers is represents the points when the elevator is at the ground and the 10th floors. (b) (i) 1. 2. (ii) 1. 2. (c) (d) QUESTION 4 (a) (i) COMMUNICATING CLASSES a. 1, 4, 5 - closed, recurrent, periodic (3) b. 3, 6 - not closed,...
3 Pages(750 words)Math Problem

### Statistics/Probability

...Be sure to show your work so that partial credit may be awarded. To receive full credit, work must be shown if applicable. Section 3 Basic Concepts of Probability and Counting 1. Lock combinations are made by using 4 digits. How many different lock combinations can be made if repetition of digits is allowed? Each place in the 4 digit number can be occupied by any of the 10 digits. Hence by the multiplication theorem of probability, we get No of different combinations = 10 × 10 × 10 × 10 = 10000 combinations 2. In 2001 the stock market took some big swings up and down. One thousand investors were asked how often they tracked their investments. The table below shows their responses. What is the...
2 Pages(500 words)Statistics Project

### Probability

...The Use of Probability in Inferential Statistics There are many distribution models used in inferential statistics. The distribution modelsreflect 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 made on how the variable values may be actually distributed in a population. The most conventional or usual assumptions on population distribution are the standard normal, t-distribution, and the chi-square distribution. Using assumptions on how variable values are distributed in a population makes it possible for man to anticipate the characteristics...
7 Pages(1750 words)Term Paper

### Probability

...What are the Historical facts Behind the Development of Probability and Distribution? Introduction Statistics is the field that is concerned with investigation, summarizing and inferring from facts relating to complex systems. History shows that various statistical tools such as probability and distribution methods were developed around the sixteenth century. The time period when these marvelous mechanisms were established was the scientific revolution. Some efforts regarding probability were also made in the 15th century in the context of dice throwing but the finished and established version came to light only in the sixteenth...
6 Pages(1500 words)Essay

### PROBABILITY

...Your full ID: Assignment 02-Probability Module + Hand Out “PROBABILITY” i. Given: P(A) = 6/7, P(B) = 7/8, P(D) = 9/10, and Machine efficiency = 27/44 P(C) = unknown All four components need to be in working order for the machine to complete the process successfully. The machine will fail to complete the process from start to finish if at least one of the tasks fails. The efficiency of the machine is the probability that the machine completes the process from start to finish. Further, all tasks (from A to D) are independent tasks Therefore, Therefore, the probability that component C is in working condition is The probability that component C is in...
4 Pages(1000 words)Coursework

### Probability

...PROBABILITY Explain your strategy for solving the problem I will not call my opponents bet by tossing the rest of my money because in playing cards winning lies on probability. I would continue with my two down cards 6 of (diamonds) & 7 of (diamonds) bearing in mind that they will come up. Explain why your strategy will work. Probability does not always occur twice, so there is no need for quitting. My strategy therefore largely lies on probability. Probability is always related to gambling because if at all one of the down cards does not show up there is a high possibility that they will come up in the next play (Bassarear 2011). Execute your strategy showing your mathematical work. So am having the values diamonds=6, 7... = the...
1 Pages(250 words)Speech or Presentation

### Task 5 PROBABILITY, STATISTICS, & QUANTITATIVE PROBLEM

...Task A A is looking for the best option in purchasing school supplies. Company A is offering a discount of 10% for every dollar amount spent;Company B is offering a higher discount of 20%, but the discount is only applicable after a \$20minimum is spent on supplies. The student is looking for the company that will save her the most amount of money overall. Given that she is on a fixed income it will be important for her to receive the highest amount of savings when she purchases school supplies. It needs to be determined which company would save the student the most amount of money. There are two options for the student to consider: Firstoption is to purchase from company A, assuming it offers a discount of 10% on each dollar... A A is...
1 Pages(250 words)Essay

### Regression/ANOVA (probability and statistics)

...of significance and conclude that there is no correlation between the scores of the countries when playing home and away. Although there is supposed to be a correlation between home and away scores, it must be realized that home advantage every team every differently. A third test on the correlation between the interaction of the sum of score of different countries yields similar results. From this test, a p-value of 0.623 and F-tabulated value 0.757 are obtained. Based on these values, there is enough evidence to reject H0 at 95% level of significance and conclude that there is no correlation between the interaction of the sum of score of different countries yields similar results. There could have been some interaction as each country...
2 Pages(500 words)Essay

### Probability

...Ranking of Jackson County judges Ranking of Jackson County judges Every year a number of cases are handled by judges in Jackson County. Some of these cases are appealed. However some of them are upheld. In connection to this the main aim of these study was to investigate how the judges perform based on the number of cases appealed and the number of cases reversed. This ranking was necessary to find out whether the judges are doing a great or not. Three courts were investigated: Municipal Court, Domestic Relations, and Common Pleas Courts. To get the probability of appeal: P (Appeal), the following formula was used; P (Appeal) = To obtain P (reversed), the following formula was used. P (Reversed) = On the other hand P...
8 Pages(2000 words)Essay

### Statistics and Probability in Business

...Application of Statistics and Probability in Business Executive Summary: Statistics and probability provides many useful tools for extracting useful information from myriad set of data and thus helps in making informed business decisions. These tools have been applied for a wide variety of data set pertaining to Handy Hydraulic Industries pertaining to different aspects of business like number of orders, average order size, total sales, sales across different profit centers, operation of frequently faltering copiers, numbers of calls per hour and active customers’ account size to name a few. Relevant tools from statistics and probability...
11 Pages(2750 words)Dissertation