Find a study that was done using simulation to estimate a p-value, probability, or random outcome, similar to the earthquake simulation study described in Case Study 15.1. Or, find a simulation website that allows you to conduct your own simulation study based on expert opinion or existing data. (Putting terms such as “simulation economics” or “simulation weather” in an internet search engine may help you find an appropriate.) Explain what was done in the simulation and then present and interpret the results.
Answer to relevant QuestionsFind out how to do a permutation test for the difference in means for independent samples, and carry out the test using the data in Exercise 23. State the hypotheses you are testing and the results of the test. Explain how ...Give one example of how each of the following concepts has had or might have an unwanted effect on a decision or action in your daily life: a. Conservatism b. Optimism c. Forgotten base rates d. Availability “You see a person reading The New York Times on the New York subway. Which of the following is a better bet about the reading stranger? • She has a PhD. • She does not have a college degree” (Kahneman, 2011, p. ...Estimate the probability of some event in your life using a personal probability, such as the probability that a person who passes you on the street will be wearing a hat, or the probability that traffic lights will be red ...Suppose the sensitivity of a test is .90. Give either the false positive or the false negative rate for the test, and explain which you are providing. Could you provide the other one without additional information? Explain.
Post your question