Reference no: EM13581746

Answer each question with a minimum of 40 words per question:

1) "The Poisson distribution can be a reasonable approximation of the binomial distribution." Explain why this may/may not be true.

2) Describe what is meant by a binomial experiment. How do binomial experiments apply to each of the four probability distributions; 1) binomial distribution, 2) geometric distribution, 3) hypergeometric distribution and 4) poisson distribution?

3) Explain the concept and application of uniform distribution.

4) What is the concept of normal distribution and analyze why it is a widely used probability distribution.

5) Suppose you have some data gathered from a repeated experiment. If you want to make inferences about the data collected, and knowing that it is highly unlikely that a density function will provide a perfect representation of the data, how important is it to choose a correct probability density model? Should you be concerned about the likelihood that it is highly unlikely that a density function will provide a perfect representation of the data?

6) Describe the importance of Tchebysheff's Theorem to the ability to find bounds of probability.