-The Law of Large Numbers is a statistical theory that you read about in this chapter. In your own words, what does this law say about the probability of an event? Perhaps you have also heard of something called the Law of Averages (also called the Gambler's Fallacy). Do an Internet search to find out additional information about both of these laws.

-Are these the same laws? If not, how are they related and how are they different?

-What general misconceptions do people have regarding these ideas?

-Consider the following scenarios, commenting on the validity of the reasoning that is being used. After an unusually dry autumn, a radio announcer is heard to say, "Watch out! We'll pay for these sunny days later on this winter." A batter who had failed to get a hit in seven consecutive times at bat then hits a game-winning home run. When talking to reporters afterward, he says he was very confident that last time at bat because he knew he was "due for a hit."

-Commercial airplanes have an excellent safety record. However, in the weeks following a crash, airlines often report a drop in the number if passengers, probably because people are afraid to risk flying. A travel agent suggests that, since the law of averages makes it highly unlikely to have two plane crashes within a few weeks of each other, flying soon after a crash is the safest time. In a Monte Carlo casino in 1913, the color black came up a record twenty-six times in succession in roulette. There was a near-panicky rush to bet on red, beginning about the time that black came up the fifteenth time. Why?

-Please share the URLs of any Internet resources that you utilize as you discuss this topic with your peers.

The Law of Large Numbers is a statistical theory that you read about in this chapter. In your own words, what does this law say about the probability of an event? Perhaps you have also heard of something called the Law of Averages (also called the Gambler's Fallacy). Do an Internet search to find out additional information about both of these laws.

Are these the same laws? If not, how are they related and how are they different?

What general misconceptions do people have regarding these ideas?

Consider the following scenarios, commenting on the validity of the reasoning that is being used. After an unusually dry autumn, a radio announcer is heard to say, "Watch out! We'll pay for these sunny days later on this winter." A batter who had failed to get a hit in seven consecutive times at bat then hits a game-winning home run. When talking to reporters afterward, he says he was very confident that last time at bat because he knew he was "due for a hit."

Commercial airplanes have an excellent safety record. However, in the weeks following a crash, airlines often report a drop in the number if passengers, probably because people are afraid to risk flying. A travel agent suggests that, since the law of averages makes it highly unlikely to have two plane crashes within a few weeks of each other, flying soon after a crash is the safest time. In a Monte Carlo casino in 1913, the color black came up a record twenty-six times in succession in roulette. There was a near-panicky rush to bet on red, beginning about the time that black came up the fifteenth time. Why?

Please share the URLs of any Internet resources that you utilize as you discuss this topic with your peers.

Use the Pohlig-Hellman algorithm to solve 19x ≡ 184 (mod 337) for x. Write out at least one successive squaring in detail, and at least one instance of the Chinese Remainder Theorem.

Managers are motivated to accomplish objectives if they feel that their efforts will be fairly evaluated. Discuss in detail why an organization may use different bases for evaluating the performance of managers of different types of responsibility centers.

Please answer the following:

1. Should you develop your own personal value proposition? Explain

2. What is an SBU?

3. What does SWOT stand for and how do companies use a SWOT analysis.

4. Explain the BCG matrix

Suppose that a deck of 52 cards contains 26 red cards and 26 black cards. Say we use the 52 cards to randomly distribute 13 cards each among two players (2 players receive 13 cards each). a. How many ways are there to pass out 13 cards to each of the two players? b. What is the probability that player 1 will receive 13 cards of one color and player 2 receive 13 cards of the other color?

Suppose that a deck of 52 cards contains 26 red cards and 26 black cards. Say we use the 52 cards to randomly distribute 13 cards each among two players (2 players receive 13 card each).

a. How many ways are there to pass out 13 cards to each of the two players?

b. What is the probability that player 1 will receive 13 cards of one color and player 2 receive 13 cards of the other color?