Business Statistics

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Hello..

Could you do this ECON (Discovering Business Statistics) Discussion?

TEXTBOOK

Nottingham, Quinton J. and James S. Hawkes, Discovering Business Statistics. Hawkes Learning Systems, 2013 (ISBN: 978-1-935782-87-2).

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You are also advised to go through all examples and applications (see PPT slides) related to the concepts covered in those questions. Try to answer at least 5 of questions below. For questions you cannot answer, describe the challenges that prevent you from doing so (do this for at least 2 questions).

1. Describe the following concepts: random experiment, outcome, event, probability, and sample space.

2. What is the difference between objective and subjective probabilities?

3. What is the difference between relative frequency and classical approaches to the calculation of probabilities?

4. Why are probability Law 1, Law 2, Law 3, and Law 4 important for the calculation of probabilities?

5. What is the differences between compound event, union of events, intersection of events, and complement of an event?

6. What is the probability Law 5 about?

7. What are the mutually exclusive events and which probability laws are used to describe them? Be specific.

8. What does probability Law 8 describe?

9. What is the conditional probability and which probability law describes it?

10. What is the independence of events and which probability law describes it?

11. What is the fundamental counting principle?

12. What is the difference between combination and permutation?

13. What is the difference between discrete and continuous random variables?

14. What are the 3 properties of a discrete probability distribution?

15. What are the expected value and the variance of a discrete random variable and how are they calculated?

16. What is a discrete uniform probability distribution and how are its expected value and variance calculated?

17. What are the 5 conditions of a Binomial experiment?

18. What are the 2 parameters of a Binomial distribution and its probability distribution function?

19. What are the expected value, variance, and standard deviation of the Binomial distribution?

20. What are the 2 conditions of a Poisson experiment?

21. What are the Poisson probability distribution function, its expected value, variance, and standard deviation?

22. What is the parameter of the Poisson distribution?

23. What is the difference between the Binomial and the Hypergeometric distributions?

24. What are the Hypergeometric probability distribution function, its expected value, and variance?

25. What is the difference between probability distribution function and probability density function?

26. What is the continuous Uniform probability distribution?

27. What are the continuous Uniform’s probability density function, its expected value and standard deviation?

28. What are the 5 properties of a Normal distribution?

29. What is the standard Normal distribution and how can it be used to look up probabilities in the standard Normal tables?

30. How can a Normal distribution be used to approximate the Binomial and Poisson distributions?

31. What is the continuity correction?

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– Also, I will send you two of my classmates discussions to discuss with them.

– Write with easy simple words.

– I am an international male student.

– Please note that Professor is too serious about Plagiarism so please make it different.

Thank you..

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