Please find the Standard Deviation of each option
|
Option A |
Option B |
|||
|
Payout |
Probability |
Payout |
Probability |
|
|
$200 |
0.05 |
$100 |
0.01 |
|
|
$ 50 |
0.10 |
$ 55 |
0.14 |
|
|
$ 25 |
0.15 |
$ 35 |
0.15 |
|
|
$ 5 |
0.20 |
$ 29 |
0.20 |
|
|
$ 1 |
0.50 |
$ 1 |
0.50 |
|
In: Statistics and Probability
1.Plotting densitiesPlot the probability mass function (pmf) or probability density function (pdf) for eachof the following scenarios:(a) Consider abinomialrandom variable,X.i. Plot the pmf ofX∼Bin(n= 10,p= 0.3).ii. Plot the pmf ofX∼Bin(n= 10,p= 0.7).iii. Plot the pmf ofX∼Bin(n= 100,p= 0.3).iv. What happens to the shape of the pmf ofX∼Bin(n,p) whenpgets larger?v. What happens whenngets larger?(b) Consider ageometricrandom variable,Y.i. Plot the pmf ofY∼Geom(p= 0.1).ii. Plot the pmf ofY∼Geom(p= 0.5).iii. Plot the pmf ofY∼Geom(p= 0.8).iv. What happens to the shape of the pmf ofY∼Geom(p) whenpgets larger?(c) Consider aexponentialrandom variable,T.i. Plot the pdf ofT∼Exp(λ= 0.1).ii. Plot the pdf ofT∼Exp(λ= 0.5).iii. Plot the pdf ofT∼Exp(λ= 2).iv. What happens to the shape of the pdf ofT∼Exp(λ) whenλgets larger?(d) Consider anormalrandom variable,M.i. Plot the pdf ofM∼N(μ= 2,σ2= 1).ii. Plot the pdf ofM∼N(μ=−1,σ2= 1).iii. Plot the pdf ofM∼N(μ= 2,σ2= 5).1 iv. What happens to the pdf ofM∼N(μ,σ2) whenμis changed?v. What happens to the pdf ofM∼N(μ,σ2) whenσ2gets larger?(e) Which of the continuous distributions looks the most similar to the geometricdistribution? Which looks the most similar to the binomial distribution (withlargen)? Do these relationships make sense, based on your knowledge of thedistributions and their assumptions?
In: Statistics and Probability
| Empolyee | age |
| 1 | 25 |
| 2 | 32 |
| 3 | 26 |
| 4 | 40 |
| 5 | 50 |
| 6 | 54 |
| 7 | 22 |
| 8 | 23 |
| age | |
| Mean | 34 |
| Standard Error | 4.444097209 |
| Median | 29 |
| Mode | #N/A |
| Standard Deviation | 12.56980509 |
| Sample Variance | 158 |
| Kurtosis | -1.152221485 |
| Skewness | 0.767648041 |
| Range | 32 |
| Minimum | 22 |
| Maximum | 54 |
| Sum | 272 |
| Count | 8 |
| Confidence Level(95.0%) | 10.50862004 |
Describe the point estimate, normal probability distribution, and standard normal probability distribution in details, in 4 paragraphs.
In: Statistics and Probability
In: Statistics and Probability
In: Statistics and Probability
Bayesian probability is subjective insofar as we can start with almost any prior probability we want. Why are we then able to say that Bayesian probability can give us an accurate understanding of what the probability of an event is?
In: Statistics and Probability
In: Accounting
Exercise 1: probability Concepts
Part one: Contingency table and Probability rules
A study on speeding violation and driver age produced the following contingency table.
|
Speeding Age |
speeding violation last year |
No speeding violation last year |
|
20 -29 |
95 |
70 |
|
30 -39 |
101 |
97 |
|
40 -49 |
70 |
85 |
|
50 -59 |
45 |
90 |
|
60 -69 |
19 |
103 |
If a driver is selected at random from this sample, find the following probabilities:
Round your answers to 3 decimals
Part two: Classical probabilities, counting rules and probabilities
1. A fair coin and then a die with 6 sides are tosses find the probabilities of the six events occurring respectively
2. An urn contains 5 white ,4 black and 3 red marbles. If 3 marbles are selected from this urn.
Find the probability that at least one of the 3 marbles is black
In: Statistics and Probability
Suppose that coin 1 has probability 0.8 of coming up heads, and coin 2 has probability 0.6 of coming up heads. If the coin flipped today comes up heads, then with equal probability we select coin 1 or coin 2 to flip tomorrow, and if it comes up tails, then we select coin 2 to flip tomorrow.
(a) If the coin initially flipped is coin 1, what is the probability that the coin flipped on the second day after the initial flip is coin 2?
(b) What proportion of flips use coin 1 and what proportion use 2 in the long run?
In: Statistics and Probability
In: Statistics and Probability