Question

How could you use Expected Value in your life or future profession?

How might the Chi-square test be a useful tool in your future profession? What might be a proposed study of interest in your future profession be that would utilize a Chi-square test (be sure to include the categorical variables in the study)?

Answer 1

Application of expected value in real life

Suppose a survey is conducted after introduction of a new drug for treatment."Yes" corresponds to the drug being useful and "No" corresponds to the drug being not useful in curing the disease.Hence the survey follows a binomial random variable which counts the number of "success" in a fixed number of trials assumping the trials are independent and same probability of success.Hence the expectation of this survey gives the central or average valueOr,in other words, we get the value we expect if we repeat the process infinite times.

Application of chisquare test

In real life application, chi square test of independence,is mostly used in clinical and diagonistic researches being an important tool in determing the relation being two categorical variable.

In field of bio-statistics,apllication of chi square test is a very common .Let us take an example where we want to find the relation between joint pain and running.Our categorical variables are number of people who runs more than 25km per week and people who are experiencing joint pain.