In Exercises 5 and 6. determine whether you can use a normal distribution to approximate the binomial distribution. If you can, use the normal distribution to approximate the indicated probabilities and sketch their graphs. If you cannot, explain why and use a binomial distribution to find the indicated probabilities. 5. Sixty-nine percent of U.S. college graduates expect to stay at their first employer for three or more years. You randomly select 18 U.S. college graduates and ask them whether they expect to stay at their first employer for three or more years. Find the probability that the number who expect to stay at their first employer for three or more years is (a) exactly 10. (b) less than 7. and (c) at least 15. Identify any unusual events. Explain. (Source: Accenture)
In Exercises 5 and 6. determine whether you can use a normal distribution to approximate the binomial distribution. If you can, use the normal distribution to approximate the indicated probabilities and sketch their graphs. If you cannot, explain why and use a binomial distribution to find the indicated probabilities. 5. Sixty-nine percent of U.S. college graduates expect to stay at their first employer for three or more years. You randomly select 18 U.S. college graduates and ask them whether they expect to stay at their first employer for three or more years. Find the probability that the number who expect to stay at their first employer for three or more years is (a) exactly 10. (b) less than 7. and (c) at least 15. Identify any unusual events. Explain. (Source: Accenture)
Solution Summary: The author explains that the normal distribution can be used to approximate the binomial distribution. The sample size is n=18 and the number of college graduates expect to stay at first employer for three or more years is 0.69
In Exercises 5 and 6. determine whether you can use a normal distribution to approximate the binomial distribution. If you can, use the normal distribution to approximate the indicated probabilities and sketch their graphs. If you cannot, explain why and use a binomial distribution to find the indicated probabilities.
5. Sixty-nine percent of U.S. college graduates expect to stay at their first employer for three or more years. You randomly select 18 U.S. college graduates and ask them whether they expect to stay at their first employer for three or more years. Find the probability that the number who expect to stay at their first employer for three or more years is (a) exactly 10. (b) less than 7. and (c) at least 15. Identify any unusual events. Explain. (Source: Accenture)
Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.
Write a Regression summary explaining significance of mode, explaining regression coefficients, significance of the independent variables, R and R square.
Premiums earned
Net income
Dividends
Underwriting Gain/ Loss
30.2
1.6
0.6
0.1
47.2
0.6
0.7
-3.6
92.8
8.4
1.8
-1.5
95.4
7.6
2
-4
100.4
6.3
2.2
-8.1
104.9
6.3
2.4
-10.8
113.2
2.2
2.3
-18.2
130.3
3.0
2.4
-21.4
161.9
13.5
2.3
-12.8
182.5
14.9
2.9
-5.9
193.3
11.7
2.9
-7.6
1- Let A = {A1, A2, ...), in which A, A, = 0, when i j.
a) Is A a π-system? If not, which element(s) should be added to A to become a π-system?
b) Prove that σ(A) consists of the finite or countable unions of elements of A; i.c., A E σ(A) if and
only if there exists finite or countable sequence {n} such that A = U₁An (Hint: Let F be such
class; prove that F is a σ-filed containing A.)
c) Let p ≥ 0 be a sequence of non-negative real numbers with Σip₁ = 1. Using p₁'s, how do you
construct a probability measure on σ(A)? (Hint: use extension theorem.)
2- Construct an example for which P(lim sup A,) = 1 and P(lim inf An) = 0.
In a town with 5000 adults, a sample of 50 is selected using SRSWOR and asked their opinion of a proposed municipal project; 30 are found to favor it and 20 oppose it. If, in fact, the adults of the town were equally divided on the proposal, what would be the probability of observing what has been observed? Approximate using the Binomial distribution. Compare this with the exact probability which is 0.0418.
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.
Discrete Distributions: Binomial, Poisson and Hypergeometric | Statistics for Data Science; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=lHhyy4JMigg;License: Standard Youtube License