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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...

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...

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...

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....

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...

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...

Identity Testing and DNA

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

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...

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...

Operations Management Calculations

too long to make an analysis of it viable when undertaking all the other tasks of everyday life and setting up a business. When ...

The Impact of the Inflation Statement Of May, 2003

to hear its prognostication for the near future (Gosselin, 2003), indicating how "the Fed would be forced into deflation-fighting ...

Personal Probability and the Influences of Psychology

18 and 50, who have demonstrated a willingness to participate. The surveys will be collected over a two week period in order to g...

Investment Risk

the potential of the company. In addition to the financial performance measured by ratios such as profit margins, the investors wi...

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...

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...

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...

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...

Drawing and Using a Decision Tree

Decision trees can be useful tool when making decisions. The writer looks at what a decision tree can do, and then uses a scenari...

Probability of UFOs

for shortly thereafter she was transferred overseas, where rumor has it that she became a casualty of an airplane crash (Willwerth...

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...

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...