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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...

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...

Identity Testing and DNA

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

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...

Survey Methodological Issues

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

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...

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...

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...

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...

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...

Probability of UFOs

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

Sampling and Probability

be to suppose an outcome or event (A) occurs f times in n observations, then the concept of probability of the event A would be an...

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...

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...

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...

UK Value Determinants and Long Term Life Insurance and Short Term General Insurance

limited guarantees. The Financial Times (3/3/99) reported that when Norwich Union bought London & Edinburgh in October of 1...

Probability Interpretations

In eight pages the probability interpretations of propensity, subjective, and logical are evaluated with the inclusion of philosop...

Three Engine Aircraft and Probability

awry! Although probability analysis attempts to take all factors into consideration the reality is that this is an impossib...

Statistical Analysis and Alpha Use

The statistical conclusion validity of a study measures the exact amount of validity shown by the test in a given situation. A te...

Excel Baseball Case Study

Min $300,000 Range $6,200,000 San Francisco San Fransico Max $15,000,000 Min $300,000 Range $14,700,000 NY Mets NY Mets M...

Risk Management Questions

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