Simple law of averages

Assignment Help Basic Statistics
Reference no: EM131833180

The law of large numbers, in popular terminology, is called the law of averages. Comment on the following advice. When you toss a fair coin to decide a bet, let your companion do the calling. "Heads" is called 7 times out of 10. The simple law of averages gives the man who listens a atremendous dvantage.

Reference no: EM131833180

Questions Cloud

Ball drawn on the jth draw is white or black : An urn contains 12 balls, of which 8 are white and 4 are black. A ball is drawn and its color noted. The ball drawn is then replaced; at the same time
Distance between the points : Let X1 and X2 be the coordinates of 2 points randomly chosen on the unit interval. Let Y = |X1 - X2| be the distance between the points.
Correlation coefficient vanishes : Prove that if X1 and X2 are jointly normally distributed random variables whose correlation coefficient vanishes then X1 and X2 are independent.
Distributed random variables possessing finite : Let X1 and X2 be jointly distributed random variables possessing finite second moments. State conditions under which it is possible
Simple law of averages : The simple law of averages gives the man who listens a atremendous dvantage.
Find the mean and variance of winnings : Find the mean and variance of his winnings.
Find the mean and variance of the number of deaths : Find the mean and variance of the number of deaths within a year among 20,000 men of this age.
How much should the man be willing to pay for a ticket : How much should the man be willing to pay for a ticket in this lottery?
What is its mean and variance : The amount of money in the red purse at the end of this experiment is a random variable. What is its mean and variance?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Are there any unusual observations that should be monitored

Using numerical and graphical summaries, describe the distribution of each explanatory variable. Are there any unusual observations that should be monitored?

  Determining property of standard normal distribution

Determine the special property of standard normal distribution, compared to other normal distributions?

  What is the decision

if there is sufficient evidence to conclude that the proportion of adults who support the death penalty is higher in the U.S.A. than in Germany

  Compute probability for the internal revenue service

According to the Internal Revenue Service, income tax returns one year averaged $1,332 in refunds for taxpayers. One explanation of this figure is that taxpayer

  Recognizing the brand name

A brand name has a 60% recognition rate. If the owner of the brand wants to verify that rate by beginning with a small sample of 10 randomly selected consumers, find the probability that exactly 6 of the 10 consumers recognize the brand name.

  Analysis to measure profitability and liquidity

Write a paper of no more than 1250 words in which you conduct a comparative and ratio analysis to measure profitability and liquidity.

  Basic bio-statistics

Basic Biostatistics is a concise, introductory text that covers biostatistical principles and focuses on the common types of data encountered in public health and biomedical fields.

  Total area of a window

A window is in the shape of a square of side s, with a semicircle of diameter s above it. Write a function that expresses the total area of the window as a function of s.

  Con?dence interval for the actual variance

Assuming that the data may be viewed as a random sample from a normal population, construct a 99% con?dence interval for the actual variance of the air pollution index for this city and interpret.

  How many treatments are present in experiment

At the end of the training program, the attitude of each trainee was measured on a 100-pt. scale (the lower the score, the poorer the attitude). How many treatments are in this experiment?

  Correlation between two events

Research has shown that the people often see a correlation between two events when one does not really exist. Why do you think this happens?

  Researcher evaluating a gun training program

A researcher evaluating a gun training program in a large American city found that rapes dropped by 90% in the year following the training.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd