the probability distribution of a discrete random variable and that of a continuous random variable? Explain. A continuous random variable is achieved from information that can be measured instead of counted. A continuous random variable is a variable that can assume an infinite amount of possible values. The probability distribution of a discrete random variable included values that a random variable can assume and the corresponding probabilities of the values. The probability distribution
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Nova Southeastern University H. Wayne Huizenga School of Business & Entrepreneurship Assignment for Course: | QNP 5000 | Submitted to: | | Submitted by: | | | | | | | Date of Submission Title of Assignment: Case 5.3 “Boise Cascade Corporation CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used
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3. The probability of a success and failure , denoted by pand q, remains constant from trial to trial. 4. The repeated, trials are independent. Formula for success in the Bernoulli process. The probability of r success from n trial is : [pic] where; r - the number of success n – the number of trial p – the probability of success from one trial and q – the probability of failure from one
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STAT1029 - Lecture 7 Supplementary Notes Dr. Erwin George, School of Computing and Mathematical Sciences, University of Greenwich September 19, 2012 Dr. Erwin George, Dept. of Mathematics STAT1029 TIPS Invest time learning the language of Mathematics/Statistics/Computing (with all of its special cases and exceptions and conventions). Dr. Erwin George, Dept. of Mathematics STAT1029 TIPS Invest time learning the language of Mathematics/Statistics/Computing (with all of its
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use the probability function of Poisson which is; P(X=a)= λa*eλ/a! Therefore, we use adjust this equation according to our demand function. P(Dt+1=S-j)= λ(S-j) *e-λ ÷ (S-j)! P(Dt+1=i-j)= λ(i-j) *e-λ ÷ (i-j)! Let X0=4, λ=2,m=6, s=2 and S=5 iv) According to the probability functions that are stated above we calculated the probabilities of state transitions and inserted these values in to the matrix cells which is given below. Table 1. case a first probability matrix.
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(EMBS problem 23, page 260) The time needed to complete a final exam in a particular college course is normally distributed with a mean of 80 minutes and a standard deviation of 10 minutes. a. What is the probability a student completes the exam in one hour or less? b. What is the probability the student will complete the exam in more than 60 but less than 75 minutes? c. The distribution of number of hours to complete this exam is normal with a mean of 1.333. What is the variance? d. Assume the
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| | | |Poor |$30,000 | The annual revenue estimates are based on future sales of the components. The sales department estimates the probability of good, average, and poor future sales as 0.30, 0.60, and 0.1, respectively.
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determine whether the purchase of another copy machine is necessary. They have the following information: • Time between breakdowns is 1- 6 weeks with probability of a breakdown increasing the longer the copier went without a breakdown • repair time probabilities Table 1: Probability of the days to repair copier Repair Time (days) Probability 1 0.20 2 0.45 3 0.25 4 0.10 • Loss of revenue during repair of the copier: approx. 2000 – 8000 copies/day at $0.10/copy Again, if revenue lost/year
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included is relevant to investment management by the ICFA, the Institute of Chartered Financial Analysts. We hope you find this appendix helpful. Use it to make your venture into investments more enjoyable. 1006 Appendix A 1007 A.1 PROBABILITY DISTRIBUTIONS Statisticians talk about “experiments,” or “trials,” and refer to possible outcomes as “events.” In a roll of a die, for example, the “elementary events” are the numbers 1 through 6. Turning up one side represents the most disaggregate
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SOCIETY OF ACTUARIES/CASUALTY ACTUARIAL SOCIETY EXAM C CONSTRUCTION AND EVALUATION OF ACTUARIAL MODELS EXAM C SAMPLE QUESTIONS The sample questions and solutions have been modified. This page indicates changes made to Study Note C-09-08. January 14, 2014: Questions and solutions 300–305 have been added. July 8, 2013: Questions and solutions 73A and 290–299 were added. Question and solution 73 were modified. Question 261 was deleted. August 7, 2013: Solutions to Questions 245, 295, and 297
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