Problem regarding the comment on the validity

Reference no: EM131008951

1. What does it mean? part 1. Respond to the following questions:

a) A casino claims that its roulette wheel is truly random. What should that claim mean?

b) A reporter on Market Place says that there is a 50% chance that the Federal Reserve Bank will cut interest rates by a quarter point at their next meeting. What is the mean- ing of such a phrase?

2. What does it mean? part 2. Respond to the following questions:

a) After an unusually dry autumn, a radio announcer is heard to say, "Watch out! We'll pay for these sunny days later on this winter." Explain what he's trying to say, and comment on the validity of his reasoning.

b) A batter who had failed to get a hit in seven consecutive times at bat then hits a game-winning home run. When talking to reporters afterward, he says he was very confident that last time at bat because he knew he was "due for a hit." Comment on his reasoning.

Reference no: EM131008951

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