...Shamara MAT 143 03/02/16 Module 6 Project 1. (5 pts) You are going to roll a pair of dice 108 times and record the sum of each roll. Before beginning, make a prediction about how you think the sums will be distributed. (Each sum will occur equally often, there will be more 12s than any other sum, there will be more 5s than any other sum, etc.) Record your prediction here: I think in the beginning the sums will vary but then eventually repeat, and there will be more 7’s then any other sum. 2. (5 pts) Roll the dice 108 times and record the sum of each roll in the table provided below. 7 3 4 8 11 3 6 4 2 10 5 9 7 7 12 10 10 3 5 2 2 6 4 8 5 9 2 7 9 7 7 12 12 4 6 3 9 8 2 3 12 6 9 7 7 7 12 5 6 8 2 4 7 7 8 10 3 5 5 4 7 7 12 4 6 8 3 12 7 7 8 3 10 3 5 8 7 9 6 6 12 4 7 9 9 11 4 5 2 5 2 3 5 3 10 2 2 4 3 6 3 10 7 7 9 8 5 12 3. (22 pts) Find the experimental probability of rolling each sum. Fill out the following table: Sum of the dice Number of times each sum occurred Probability of occurrence for each sum out of your 108 total rolls (record your probabilities to three decimal places) 2 10 .092 3 13 .120 4 10 .092 5 11 .101 6 9 .083 7 19 .175 8 9 .083 9 9 .083 10 7 .064 11 2 .018 12 9 .083 4. (5 pts) Compare your outcomes to your prediction. Was your prediction correct? Why do you think this happened? Yes, my predictions were correct and I think it just happened coincidently. 5. (5 pts) What number(s) occurred...
Words: 716 - Pages: 3
...designed for smaller start-up airlines to a better carrier. Other than that, both airlines needed more processing power to deal with a far greater volume of customers. They also needed features like the ability to link prices and seat inventories to other airlines with whom they cooperated. Both JetBlue and WestJet contracted with Sabre Holdings to upgrade their airline reservation systems. The differences between WestJet and JetBlue’s implementation of Sabre’s SabreSonic CSS reservation system illustrate the dangers inherent in any large-scale IT overhaul. It also serves as yet another reminder of how successfully planning for and implementing new technology is just as valuable as the technology itself. * Evaluate the risks of the projects to upgrade the reservation systems of...
Words: 1983 - Pages: 8
...instead of removing the process. The term that risk reduction is applied to is a complete understanding of the intent of the criterion to ty risk- reducing the probability of the events occurring. In the terms of the second and third definitions of risk because they include both the probability of the event and the severity of the harmful consequences. Risk reduction is a term that capture the fundamental concept that harmful events consist of the three phases. Jensen, R. C. (2012). Risk-Reduction Methods: For Occupational Safety and Health (1st e A physical model is one that thing would be (like if you were creating a model of say a building, park, airplane or other large structure or area), sometimes it's actual size if it is small enough. You build or have built that you can touch. Sometimes it is a miniature version of what the real. What I mean by physical models is those that are meant to represent the physical world, as opposed to – for example – biomechanical, or computers models. Jensen, R. C. (2012). Risk-Reduction Methods: For Occupational Safety and Health (1st ed.). Whenever you are planning or one have to deal with risk and hazards we should looking in to the process from the beginning to the end. Where do we want to be at this point in the project as we go through the forward-looking phrase and getting all hazard under control and identifying them from top to bottom in a full lifecycle as they may occur...
Words: 877 - Pages: 4
...Quantitative Values Project: Homeowner Master Bathroom Remodel To incorporate quantitative values of expected value and probability into the risk management plan for my master bathroom remodel project will be a challenge. The homeowner is taking on the task of trying to do much of the remodel work himself. Hence the risk is related to human failure. Since the homeowner does not have extensive experience in some of the remodeling tasks, there is no history that can be used to calculate failure rates so that probabilities can be determined. The use of a Human Error Probabilities (HEP) model will be needed to determine the probabilities of the remodel tasks that are most at risk. The tasks that have been identified most at risk are the plumbing, electrical and window installation. I will use the Delphi approach to develop HEP estimates for the most at risk tasks. The first step is to select a panel consisting of four subject matter experts (SME), a risk analysis and a group facilitator. Two of the four SMEs will have professional experience in bathroom remodeling and the other two will be homeowners that have taken on bathroom remodel projects but do not necessarily do it for a living. This is to help minimize biasing the data since the analysis is going to be used to determine whether the homeowner does the work himself or contracts it out. After the facilitator introduces each member of the panel and introductions have been made, the risk analysis will present one of the remodel...
Words: 1068 - Pages: 5
...700+ GMAT Problem Solving Probability and Combinations Questions With Explanations Collected by Bunuel Solutions by Bunuel gmatclub.com 1. Mary and Joe are to throw three dice each. The score is the sum of points on all three dice. If Mary scores 10 in her attempt what is the probability that Joe will outscore Mary in his? A. 24/64 B. 32/64 C. 36/64 D. 40/64 E. 42/64 Expected value of a roll of one dice is 1/6(1+2+3+4+5+6)=3.5. Expected value of three dices is 3*3.5=10.5. Mary scored 10 so the probability to have more then 10, or more then average is the same as to have less than average=1/2. P=1/2. Answer: B. Discussed at: http://gmatclub.com/forum/mother-mary-comes-to-me-86407.html 2. Denise is trying to open a safe whose combination she does not know. IF the safe has 4000 possible combinations, and she can try 75 different possibilities, what is the probability that she does not pick the one correct combination. A. 1 B. 159/160 C. 157/160 D. 3/160 E. 0 When trying the first time the probability Denise doesn't pick the correct combination=3999/4000 Second time, as the total number of possible combinations reduced by one, not picking the right one would be 3998/3999. Third time 3997/3998 ... And the same 75 times. So we get: [pic] every denominator but the first will cancel out and every nominator but the last will cancel out as well. We'll get 3925/4000=157/160. Answer: C. Discussed at: http://gmatclub.com/forum/4000-possible-combination-84435...
Words: 7620 - Pages: 31
...out by a single analyst. This technique is used to analyze the potential failure of equipment or systems. The analyst must have a thorough understanding of the system under investigation. The technique identifies areas of the project that have a high risk for failure so that resources can be used effectively on the problem regions. For a company like Yahoo!, which has a high focus on technology and an expansive database system, the FMECA technique would be extremely beneficial. Isolating the problem areas before implementing new hardware or a new system will provide the information they need to plan out such a project and make informed decisions regarding schedules and budgets. Benefit #2 Risk management discourages the acceptance of financially unsound projects. The use of the probability-impact table technique is an effective method for identifying the potential impact of risks. The risks are mapped out on a table and rated on a scale according to their probability and their impact on the company. Basically, it would identify what the possible risks are and how bad it could be if they happened. The risks being analyzed would depend on the project. If Yahoo! Is considering the implementation of new software, they would need to analyze the probability and impact of risks such as system hacking, computer viruses, loss of data, natural disasters, and malfunctions. Each of these risks have potentially serious consequences and must be analyzed to determine their impact. Some risks...
Words: 346 - Pages: 2
...Title: The Probability that the Sum of two dice when thrown is equal to seven Purpose of Project * To carry out simple experiments to determine the probability that the sum of two dice when thrown is equal to seven. Variables * Independent- sum * Dependent- number of throws * Controlled- Cloth covered table top. Method of data collection 1. Two ordinary six-faced gaming dice was thrown 100 times using three different method which can be shown below. i. The dice was held in the palm of the hand and shaken around a few times before it was thrown onto a cloth covered table top. ii. The dice was placed into a Styrofoam cup and shaken around few times before it was thrown on a cloth covered table top. iii. The dice was placed into a glass and shaken around a few times before it was thrown onto a cloth covered table top. 2. All result was recoded and tabulated. 3. A probability tree was drawn. Presentation of Data Throw by hand Sum of two dice | Frequency | 23456789101112 | 4485161516121172 | Throw by Styrofoam cup Sum of two dice | Frequency | 23456789101112 | 2513112081481072 | Throw by Glass Sum of two dice | Frequency | 23456789101112 | 18910121214121174 | Sum oftwo dice | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | Total | Experiment1 | 4 | 4 | 8 | 5 | 16 | 15 | 16 | 12 | 11 | 7 | 2 | 100 | Experiment2 | 2 | 5 | 13 | 11 | 20 | 8 | 14 | 8 | 10 | 7 | 2 | 100 | Experiment3 | 1 | 8 | 9 | 10 | 12 | 12 | 13 | 12 | 11...
Words: 528 - Pages: 3
...Probability and Distributions Abstract This paper will discuss the trends and data values and how they relate to statistical terms. Also will describe the probability of different actions to the same group of data. The data will be broke down accordingly to qualitative and quantitative data, and will be grouped and manipulated to show how the data in each group can prove to be useful in the workplace. Memo To: Head of American Intellectual Union From: Abby Price Date: 3/05/2014 Subject: Data analysis from within the union’s surveys Dear Dr. Common: I will be analyzing data given to me which was taken from a survey within the union from 186 employees. I will discuss probability and how its information is important in the workplace. Overview of the Data Set The data group I was given to analyze has 9 categories: gender, age, department, position, tenure, job satisfaction, intrinsic, extrinsic, and benefits. The employees were asked to rate on a scale of 1-7 on how satisfied they were with the company. Gender, age, department, position and tenure are all qualitative data. This data is acknowledged by a code on the given data but cannot measured unlike the quantitative data: job satisfaction, intrinsic, extrinsic, and benefits. Use of Statistics and Probability in the Real World Statistics are just about everywhere in the business world, from the upper management to the lower line of employees, statistics are very useful and are a huge part of our...
Words: 1165 - Pages: 5
...PERCENTAGES: THE MOST USEFUL STATISTICS EVER INVENTED Thomas R. Knapp © 2010 "Eighty percent of success is showing up." - Woody Allen “Baseball is ninety percent mental and the other half is physical.” - Yogi Berra "Genius is one percent inspiration and ninety-nine percent perspiration." - Thomas Edison Preface You know what a percentage is. 2 out of 4 is 50%. 3 is 25% of 12. Etc. But do you know enough about percentages? Is a percentage the same thing as a fraction or a proportion? Should we take the difference between two percentages or their ratio? If their ratio, which percentage goes in the numerator and which goes in the denominator? Does it matter? What do we mean by something being statistically significant at the 5% level? What is a 95% confidence interval? Those questions, and much more, are what this book is all about. In his fine article regarding nominal and ordinal bivariate statistics, Buchanan (1974) provided several criteria for a good statistic, and concluded: “The percentage is the most useful statistic ever invented…” (p. 629). I agree, and thus my choice for the title of this book. In the ten chapters that follow, I hope to convince you of the defensibility of that claim. The first chapter is on basic concepts (what a percentage is, how it differs from a fraction and a proportion, what sorts of percentage calculations are useful in statistics...
Words: 24786 - Pages: 100
...Risk Analysis Risk Seeker After analyzing the case study it is evident that the company has a good risk appetite and is a Risk Seeker. The company’s vision to create a diversified group of niche resorts and hotels in strategic locations throughout the world amplifies that it wants to create a distinct image for itself. Banyan Tree identifies strategic locations where a typical resort would play safe and charge moderate prices whereas Banyan tree would price exuberant rates and be price maker than a price taker. It ability to create a niche where others are conservative clearly shows it is ready to take higher risks for higher benefits making it a Risk Seeking organization. Its strong strategy is to enjoy higher prices for the concepts like tropical garden spa and pool villa which is a signature feature of Banyan Tree and complement it with residence and property sales and gallery operations. Banyan Tree has grown and established its presence in Asia - Pacific against the backdrop of many disasters like Terrorists attacks in 2001, breakout of SARS in 2003 and Tsunami in 2004. Some facts like the profits of Banyan Tree grew by 41.9% from 2003 to 2004 when breakout of SARS severely hit countries like China, Hong Kong, Singapore and Vietnam where Banyan Tree had its major operations proves its adaptability and strength. In 2004 when Tsunami hit even though the profits from resorts receded profits from property sales helped Banyan Tree to not run into losses. Thus multiple revenue...
Words: 2116 - Pages: 9
...through the decisions made in the industry every day by the sponsor or pharmaceutical company sponsoring the investigations product. While the sponsor analysis their data, from a team management point of view, the author must determine the number of sites required to achieve the desired results. It is here were statistics and probability comes into place. In order to determine and try to achieve the desired results within the population allowed, the author must determine the number of sites required in order to achieve the desired results. In Phase II, since the sample size is small, the number of sites is determined based on the number of sites needed. For example, past history shows that in order to enroll 95 subjects, 26 sites must be selected. This is based on achieving the desired results 44% of the time. A decision must be made to determine whether or not the author should contract the same number of sites or determine if a different number of sites will be needed. If the desired results are achieved 44% of the time based on past experiences, then in order to achieve a greater success rate, the author will use probability to...
Words: 636 - Pages: 3
...than three consecutive words from another writer. I also certify that this paper was prepared by me specifically for this course. Student’s Signature: Khanya Clark-Robinson Khanya Clark-Robinson Final Paper Kahneman1, Daniel and Tversky, Amos. (1979). “Prospect Theory: An Analysis of Decision under Risk.” 1. Big Question The big question of this article is how people make decisions under uncertainty of risks and rewards. Decisions under risks assume that a decision can be quantified as a positive or negative outcome with quantifiable probability. This theory was developed for monetary decisions and the process observations can be included in other fields; fields such as social sciences and policy making. 2. Background Information The standard for analyzing decisions was the theory that quantified the outcome and probability. A reasonable individual will choose the option with the best utility. The probability results should all add up to 100%. The utility theory has a defined logical foundation and it represents a behavior with uncertainty and a variety of decisions. At this time it is the approved method that evaluated decisions in science. Although it is utilized in science it lacks the human psychology that enables real life decisions. 3. Limitations of previous work. The expected utility theory fails in certain types of situations. An example would be insurance companies that utilize the expected utility theory. The profits are generated...
Words: 1080 - Pages: 5
...in nature and is dependent on the number of players, the more the players, the risker the lottery hence the lower the chances of winning. Consider a lottery where in one case the participants are One hundred and in the other are a thousand; the probabilities would be a hundredth and a thousandth respectively meaning the chances of winning the earlier case is higher than the later. Playing a lottery would be a good investment idea whose favorable success implies a sudden glory to wealth acquisition based on the amount of lottery bid. To play a lottery one has to be a risk taker since in itself lottery involves a higher risk and as an investor, the higher the risk the higher the returns. In essence therefore the lottery player has to factor in a lot of risk since the whole idea is a gamble. Before playing lottery, one has to ask several questions for instance; whether it is a good idea to get in to the game or not? With the money factor in mind the other question would be; would I get more or less money in the lottery? Such questions inform the action one would take. Economics reasoning rule dictates that a player would have to continue playing until you get all the money. This is a notion in itself is not sufficient since by probability and the theory of chance one will never get all the results being favorable though it keeps one’s believe in trying and retrying with the objective of always winning in mind. Playing lottery also depends on the financial position and the level...
Words: 831 - Pages: 4
...The enforceability of bar bets is generally a common law area in that the jurisprudence here is more or less advanced by the courts. Bar bets are technically governed by contract law and their enforceability is determined by the capacity of the patrons to the bets. This means whether or not they are intoxicated, after all they are in a bar. In a bar bet such as the one in this scenario is enforceable only where both parties are sober, intoxication leads to the lack of capacity. A bar bet is essentially a contract that is dependent on a particular outcome. Performance of the contact commences after a particular outcome, the outcome being the football match. In this particular contact, there are the essential requirements...
Words: 300 - Pages: 2
...“Maybe I will win this time. He has to score this game! Maybe he will get hurt and I will win…” These are just a few things that people say when betting on players and different sports teams. Gambling is usually a game of luck, but in sports gambling there is often some skill involved. The problem with “skillful gambling” is that it goes straight to the gamblers head because he thinks he knows who will play well and who won’t. In reality no one knows how the player will play; not even the player himself. “The ban on sports betting does exactly what the prohibition did. It makes criminals rich. (James Surowiecki)” Out of the fifty states in the USA, only Delaware and Nevada allow gambling on sporting events. American citizens have lost a combined $4 billion dollars gambling last year, plus a speculated $80-380 billion gambling illegally online (Billy Hobson, The Washington Post). Having said this people still run the risk of jail time as well as loosing all their money when they gamble on sporting events online. So should all forms of betting on sporting events be allowed everywhere in the United States? When reading on this topic I found two articles that did polls on random people to see if they would like sports gambling to be legal in the United States. The two articles polled a collective 1,247 different people and roughly 75% (930 people) of them believe that they should be allowed to gamble on sporting events (Michael Buteau and PBS Newshour) . Even many prominent people...
Words: 481 - Pages: 2
