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Overview of Probability

and as long as the coin has not been tampered with, when the coin is thrown into the air there are two mutually exclusive potentia...

A Probability Overview

small plane will crash than a large jet. Traveling by jet is seen as inconsequential. One can in fact look at people and make a ...

Sample Populations and Designs of Probability and Nonprobability

investigators is asking the opinions of anyone on the street (Trochim,, 2005a). Convenience sampling is including persons in the s...

Questions on Probability

The writer looks at the way that probability is used, creating some questions on probability and explaining the answers. Further q...

Student Supplied Case Study on Probability

will give us a 1 in 12 million chance. However we need to look at this in order to consider how correct it is. Here we can look at...

Probability Distribution

the figure above the line is a one, and there are two possible outcomes, this means the number below the line is 2, giving us 1/2....

Two Issues in Research Methodology

these methods is relatively simple. If all members of a population were identical, there would be no need for probability sampling...

Using Statistical Analysis and Explaining Probability

collected on the same date each month, the 12th. However, even during a day there are a number of different data points which coul...

Business Probability and Statistics

Table 1, the largest single group was women who have been with the company less than 2 years, followed by men who have been with t...

Identity Testing and DNA

known, and "probability of identity" applies only to the father. Genetic Profiles (1998), a laboratory specializing in DNA ...

Using Statistics to Assess Investments

Answering questions set by the student, the writer shows how may be useful in assessing investments. The first part of the paper l...

Calculating Probability when given a Mean and the Standard Deviation

The writer shows how the probability for a particular outcome for an investment may be calculated when the mean return and standa...

Survey Methodological Issues

be counted. Question 2 Probability v. non probability sampling Probability sampling is a random sampling style, the basis of thi...

Gambling and its Ramifications

have subtly changed what we consider an acceptable trade-off between safety and privacy," mirroring what many skeptics are stating...

An Example of How a Decision under Uncertainty May Be Assessed in the Business Environment

has been built, and more potential customers are travelling away from the store (Kotler and Keller, 2008). One of the first appro...

Forecasting Stock Needs using Statistics

the same general trend will be seen, this is usually performed using the ordinary least squares (OLS) method (McCullagh and Nelder...

Probability in Decision Making

To assess this will assume that there are the following probabilities given are 1/4 that there is a member of the population who i...

The Use of Statistical Analysis to Cut Costs

these past sales statistics to give an indication on the potential for a sale to be lost because the delivery cannot take place on...

Using Probability to Help with Decisions under Uncertainty

to evaluate collective costs. The calculation will need input that is representative of the physical results of the current action...

USING BAYESIAN THEORY TO DETERMINE A POTENTIAL OUTCOME

of a hurricane occurring to any degree of accuracy). The theorem helps us better understand what were up against and tries to elim...

Life and Theoretical Contributions of Pierre de Fermat

the work of Apollonius concerning plane loci (Ball Fermat.html). In his youth, Fermat was friends with the French scientis...

Risk Management Questions

the frequency of unexpected accidents or incidences, such as type blowouts and incidences of air range in passengers. Knowing the ...

International Politics and Issues of Importance

ensure that it survives and operates properly.4 A stable democracy has two sides: "the constitutional aspect, which provides the r...

Simulation Model Statistical Case Study

are five main approaches to using probability. The first is the classical approach. Here there is the assumption that all outcomes...

Questions on Inventory and Supply Chain Management

(CSR). Formerly little more than the means of getting goods from one place to another, logistics management has the ability to pl...

Decision Making and Hazard Insurance

In seven pages this report discusses risk protection as a major underlying role factor of hazard insurance and discusses decision ...

Decision Making Under Uncertainty; Case Study

large capacity option, as this has the potential, with a string demand of creating 50 million dollars of profit. This may be seen ...

Statistical Testing

The t-test gives as a score of 1.5691772 and the p-value (which is a probability value) is 0.074085. From this result there is a s...

Real World Application of Inferential Tests

seventy-nine percent for those who did not work out. This would reduce the inferences to only two possible choices: Exercising in ...

Confirming Understanding of Probability

come up on 1 die for the sum of two dice to be 3. As the sides of the dice are numbered from 1 to 6, the die would have...