Simulate the situation described in Thought Questions 3, 4, and 5. Assume that the probability of a boy for each birth is 0.51 and the probability of a girl is 0.49. Simulate at least 100 families with four children. Find and report the proportion of your simulated families for which there are no boys. Using the probability rules from Chapter 14, calculate the exact probability that a family with four children will not have any boys, assuming that the probability of a boy is 0.51 for each birth. Compare the result with the results of your simulation.
Answer to relevant QuestionsExplain how an insurance salesperson might try to use each of the following concepts to sell you insurance: a. Anchoring b. Pseudocertainty c. Availability Which of the concepts in this chapter might contribute to the decision to buy a lottery ticket? Explain. Suppose a defense attorney is trying to convince the jury that his client’s wallet, found at the scene of the crime, was actually planted there by his client’s gardener. Here are two possible ways he might present this ...Comment on the following unusual lottery events, including a probability assessment. a. On September 11, 2002, the first anniversary of the 9/11 attack on the World Trade Center, the winning number for the New York ...We learned in this chapter that one idea re-searchers have tested was that when forced to make a decision, people choose the alternative that yields the highest expected value. a. If that were the case, explain which of the ...
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