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Concept explainers
a.
Identify the experiment in the given situation.
a.
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Explanation of Solution
Experiment: It is the process in which it leads to exactly one occurrence among different possible results.
Here, the playability of a new video game is tested by 80 veteran game players. Hence, the experiment is to count number of players who identify that the new video game is playable.
b.
Identify the one possible outcome.
b.
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Explanation of Solution
Answers will vary. One of the possible answers is given below.
Outcome: It is a particular result of an experiment.
Consider, 60 veteran players identify the new video game as playable. Thus, one of the possible outcomes of the experiment is 60 veteran players.
c.
Check whether 65 represents
c.
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Answer to Problem 1SR
No, 65 does not represent probability.
Explanation of Solution
The value of probability lies between 0 and 1, inclusive. Here, 65 is greater than 1. Out of 80 veteran players, 65 players think that the new video game is playable. That is, when the new video game is in to market, there is 81.25%(=6580×100) chance that the new video game is successful.
Hence, 65 does not represent probability.
d.
Comment on the probability value −1.
d.
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Explanation of Solution
The value of probability lies between 0 and 1, inclusive. Here, −1is less than 0. Hence it is not possible to have the probability value as −1.
e.
Specify a possible
e.
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Explanation of Solution
Answers will vary. One of the possible answers is given below.
Event: It is defined as the collection of all possible outcomes in an experiment.
In the given experiment, the event can be “More than three-fourth of the players liked the game”.
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Chapter 5 Solutions
Statistical Techniques in Business and Economics
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