Skip to main content

How would you differentiate a discrete from a continuous random variable?

By

 Many business activities generate data that can be thought of as random. An example described in the textbook is the servicing of cars at an oil change shop. Each car entering the shop can be considered an experiment with random outcomes. A variable of interest in this experiment could be the amount of time necessary to service the car. Service time will vary randomly with each car.

We can often capture the most relevant characteristics of a stochastic process with a simple probability distribution model. We can then analyze the model to make predictions and drive decisions. For instance, we could estimate the number of technicians the oil change shop needs to service demand on a Saturday afternoon. Discuss the following:

  • What is a random variable?
  • How would you differentiate a discrete from a continuous random variable?

A laptop manufacturing company has implemented a 2-step process to test the quality of each production batch. In the first step, a technician randomly selects 15 laptops from the batch and determines whether they meet specifications. The batch is considered acceptable provided no more than 1 laptop fails to meet specifications. Otherwise, the entire batch must be tested in the second step. Historical data shows that 95% of the laptops produced adhere to specifications. Discuss the following:

  • What are the 4 characteristics of a binomial experiment?
  • Can we use a binomial distribution to model this process?
  • What is the probability that the entire batch unnecessarily has to be tested if in fact 95% of its laptops conform to specifications? (Hint: Use Excel’s =BINOMDIST() function to find the probability.)
  • What is the probability that the batch is incorrectly accepted if only 75% of its laptops conform to specifications?

Due Day 7

Reply and or respond to at least 2 of your classmates or your faculty member, and/or address the following subjects:

  1. Explain what we mean when we identify "cause and effect".
  2. How are percentages an important part of determining probability?
  3. Why do we use "degrees of freedom?"

  5. WE HAVE DONE THIS QUESTION BEFORE, WE CAN ALSO DO IT FOR YOU

    GET SOLUTION FOR THIS ASSIGNMENT, Get Impressive Scores in Your Class

    CLICK HERE TO MAKE YOUR ORDER

    TO BE RE-WRITTEN FROM THE SCRATCH

    GET SOLUTION FOR THIS ASSIGNMENT

    CLICK HERE TO MAKE YOUR ORDER

    TO BE RE-WRITTEN FROM THE SCRATCH

    NO PLAGIARISM

    • Original and non-plagiarized custom papers- Our writers develop their writing from scratch unless you request them to rewrite, edit or proofread your paper.
    • Timely Delivery- primewritersbay.com believes in beating the deadlines that our customers have imposed because we understand how important it is.
    • Customer satisfaction- Customer satisfaction. We have an outstanding customer care team that is always ready and willing to listen to you, collect your instructions and make sure that your custom writing needs are satisfied
    • Confidential- It’s secure to place an order at primewritersbay.com We won’t reveal your private information to anyone else.
    • Writing services provided by experts- Looking for expert essay writers, thesis and dissertation writers, personal statement writers, or writers to provide any other kind of custom writing service?
    • Enjoy Please Note-You have come to the most reliable academic writing site that will sort all assignments that that you could be having. We write essays, research papers, term papers, research proposals 
    • How would you differentiate a discrete from a continuous random variable?

    Get Professionally Written Papers From The Writing Experts 

    Green Order Now Button PNG Image | Transparent PNG Free Download on SeekPNG

Comments

Post a Comment

Popular posts from this blog

Starting with this provided code, add the following functionality

By
1.Starting with this provided code, add the following functionality: Replace hardcoded strings “Zero”, “One”, “Two”, “Three” in the ArrayList based on user typed input (use Scanner or JOptionPane classes). The user will be prompted for the String to be stored in the ArrayList and then hit enter. The user will be able to continue to add items to the ArrayList until they just hit enter without typing anything. Once the user does this (hits enter without typing anything), the program will display all of the elements of the ArrayList, both the index and String values, in a table. It will do this via a single loop making use of an iterator method. 2. Starting with this provided code, add the following functionality: Use a Try/Catch block so that the exception is caught and the program exits a bit more gracefully. Save this file as TryCatch.java. (Be sure to rename the Public Class accordingly.) Starting with the provided code again (without the Try/Catch block), fix the code so that
2 comments
Read more

Josie Eskander

By
  Question 1: Task 1: Report Assume you are Josie Eskander. You are writing in response to techno trading P/L’s advertisement of a new laptop at 20% below normal price. You want information on brand name, availability of service and repairs, delivery times and methods of payment. Write the letter using the seven basic parts of the letter. In the opening paragraph present a clear and courteous request. Secondly write a response from techno trading giving details and proposing the sale. Provide draft of both emails in the space below. Question 2: Task 2: Report In pairs, nominate a good and a bad letter writer. Discuss the key differences. Write a good/bad letter from techno training to Alex Antonov accepting/declining his proposal to invest in the business Question 3: Task 3: Report Write a letter from techno trading p/l to a new client ‘new realities p/l’ urging them to buy techno new virtual reality software. Make a strong argument for the product. Question 4: Task 4: Report Write a l
Post a Comment
Read more

Sandra Coke is vice president for research and development at Great Lakes Foods (GLF), a large snack food company that has approximately 1,000 employees

By
Chapter 2 I Trait Approach 33 CASE 2.1 Choosing a New Director of Research Sandra Coke is vice president for research and development at Great Lakes Foods (GLF), a large snack food company that has approximately 1,000 employees. As a result of a recent reorganization, Sandra must choose the new director of research. The director will report directly to Sandra and will be responsible for developing and testing new products. The research division of GLF employs about 200 people. The choice of directors is important because Sandra is receiving pressure from the president and board of GLF to improve the company's overall growth and productivity. Sandra has identified three candidates for the position. Each candidate is at the same managerial level. She is having difficulty choosing one of them because each has very strong credentials. Alexa Smith is a longtime employee of GLF who started part-time in the mailroom while in high school. After finishing school, Alexa worked in as many as
2 comments
Read more