Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Probability and Normal Distribution
In the study of statistics, probability is a key concept that illustrates and describes the randomness and likelihood of an event from happening given the number of ways it can happen and the number of outcomes that this event could probably happen. That is, probability in statistics helps determine how likely an event is going to happen, as the certainty of the event happening cannot be determined specifically and how many times, but the likelihood of it happening can be determined. Using probability for the researcher, statistician or business decision-maker would mean going through all possible outcomes for an event or outcome to happen. Randomness and probability makes it possible for an event to not happen at all; or there is an even chance that the event may or may not happen; but there is also a likelihood that the event could happen after all. These are the choices the individual has when s/he is operating under the principle of probability and randomness.
There...
Theoretical probability is based on the classical use of a die or coin to determine the likely outcomes of an event from happening and taking note of the actual number of times the event or outcome did occur. Relative frequency of experimental probability takes into account that the potential number of possible outcomes that an event is going to happen is dependent on the number of trials or times an action was done, and the number of times the expected event or outcome happened. Lastly, personal or subjective probability is the kind of probability that is not calculated but simply, personally expected as a result of the individual's own knowledge and/or feelings about the event and its possible outcomes given specific circumstances. This probability is not as mathematical as the other kinds of probabilities, but this is also based on the experience of the individual if…
References
DePaul University Quantitative Reasoning Center. Accessed on April 28, 2014. Available at: http://qrc.depaul.edu/
Urdan, T. (2005). Statistics in Plain English. NJ: Lawrence ErlbaumAssociates.
We have a random sample of n from the population. We can find the mean and standard deviation of the proportion of that sample that has the characteristic. X 1, X2, ..., Xn are n random variables that are independent and identically distributed with mean ? And standard deviation ?. Sn= X1+X2+...+Xn is the sample sum. We can show E (Sn)=n? And SD (Sn)=? n. CLT states: Sn-n? /0,1: as n Question
normal distribution is used to find the probability of the sample mean in this single sample z-test (we know the standard deviation of the population). Z-scores are measures of relative location. Suppose we are interested in whether enrichment sessions with parents and special tutors influence I.Q.s of children. We might start by learning what the baseline I.Q. scores are for children who participate in the I.Q. enrichment sessions. Standardized
An example of a business situation where the probability distribution may be utilized is a scenario where a manager attempts to predict employee retention. The statistical test would be a binary logistic regression analysis. The probability distribution is paramount to this example because it utilizes the dichotomous dependent variable of Yes/No (employee stays/employee quits). Independent variables that may be used to predict employee retention include education level, length of employment,
Normal Distribution Curve and Its Application in Psychology When a curve (reflecting the statistical results of the sampled population) is not skewed in any particular direction but is rather symmetrical (rather than being 'asymmetrical'). We have what is known as a "bell curve' or a Gaussian or a normal distribution. Not all symmetrical curves are normal, but all normal curves are symmetrical. This specific type of curve is important in statistics
Distribution Channels I email file. I writer: Betty comlete paper Distribution, location and timing A three tiered distribution structure will be adopted by EndovileTire Solutions. From the factory, the products will be supplied to the regional distribution centers which will then transfer the goods to carrying and forwarding agents who will act as godowns for distribution of the products to delers. Finally, the goods will get to divisional distribution centers which will then
Frequency Distributions & Sampling The lifestyle data collected and analyzed in this paper are the counts of e-mail messages received (R) and sent (S) on a per-day basis. This paper is a continuation of the study begun in a prior assignment, with the core changes being the inclusion of sample data collected over a period of an additional five days, and analysis of the standard deviation of the data relative to