Problem 14. An important continuous distribution for describing rare events the so-called Poisson Distribution given by the formula f(k; t) = where e Euler's constant. In a binomial distribution problem if n is large and p is close 0, then the probability of k successes Pr(x = k) is approximately f(k;t) with = n · p. This is known as law of small numbers or rare events. In practical oplications, this is a useful fact. For example, if in Problem 3 our drug has non- ficacy p equal 0.1% and n = 1,000, 000, we may use this approximation to make uick calculations concerning the number of patients who will get better on the rug. In this vein, apply this statement to quickly give approximate answers to the

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
Problem 14. An important continuous distribution for describing rare events
is the so-called Poisson Distribution given by the formula f(k; t) = where e
is Euler's constant. In a binomial distribution problem if n is large and p is close
to 0, then the probability of k successes Pr(x = k) is approximately f(k; t) with
t = n· p. This is known as law of small numbers or rare events. In practical
applications, this is a useful fact. For example, if in Problem 3 our drug has non-
efficacy p equal 0.1% and n =
1, 000, 000, we may use this approximation to make
quick calculations concerning the number of patients who will get better on the
drug. In this vein, apply this statement to quickly give approximate answers to the
following statements:
A) The probability that the drug effectively treats all 1 million patients?
B) The probability that the drug effectively treats at least three patients?
C) The probability that at least 1,000 patients don't get better through the
use of the drug (they may get better for other reasons outside the scope of the
experiment).
Transcribed Image Text:Problem 14. An important continuous distribution for describing rare events is the so-called Poisson Distribution given by the formula f(k; t) = where e is Euler's constant. In a binomial distribution problem if n is large and p is close to 0, then the probability of k successes Pr(x = k) is approximately f(k; t) with t = n· p. This is known as law of small numbers or rare events. In practical applications, this is a useful fact. For example, if in Problem 3 our drug has non- efficacy p equal 0.1% and n = 1, 000, 000, we may use this approximation to make quick calculations concerning the number of patients who will get better on the drug. In this vein, apply this statement to quickly give approximate answers to the following statements: A) The probability that the drug effectively treats all 1 million patients? B) The probability that the drug effectively treats at least three patients? C) The probability that at least 1,000 patients don't get better through the use of the drug (they may get better for other reasons outside the scope of the experiment).
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Knowledge Booster
Point Estimation, Limit Theorems, Approximations, and Bounds
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman