Have 2 questions with 2 responses to each question (Total of 4 responses). I need have a response to each of the responses (respond to how they answered the question and ask them a question about there answer). I will bold the 4 responses that I need answers for.

Original question 1:

The definition aprobabilityis stated as: A measure of the likelihood that an event in the future will happen; it can only assume a value between 0 and 1, inclusive. Explain the meaning of the 0 and 1.

Original Response 1:

From the textbook (2015), it is explained that the probability of an event is represented by being anywhere from 0 to 1. The numbers between 0 and 1 are the chance that an event happens. 0 represents an event that cannot happen and 1 represents the greatest probability or certainty of an event happening. The closer to 1 that the decimal or fraction is, the more likely the event will happen. Therefore the closer the decimal or fraction is to 0, the less likely the event will happen.

Original Response 2:

Knowing the definition of what a probability is helps make sense of the values between zero and one and the likelihood of an outcome occurring. The probability of 1 represents something that is certain to happen, and the probability of 0 represents something that cannot happen. (Lind, Marchal, & Wathen, 2015 p. 133). There are many things that are certain to happen and there are many things that are certain not to happen, but the vast majority of events in our lives fall somewhere between the two certainties. The recent craze with the Power Ball jackpot being over one billion dollars got a lot of people hyped up about the dream of being a millionaire or even a billionaire even though the probability of winning the jackpot was close to zero. An example of where the military uses probabilities is with the use of body armor. More people are injured due to shrapnel wounds than gunshot wounds, so they tailor their body armor to protect against shrapnel and not bullets.

Original Question 2:

You are looking for a home in a particular neighborhood, and you want to know the typical number of bathrooms and bedrooms, the square footage, and the appraised value of houses in that neighborhood. Which measure of central tendency (mean, median, or mode) would be the most appropriate for each piece of information listed, and why?

Original Response 1:

To determine the number of bedrooms and bathrooms in the particular neighborhood that I am trying to get a home at, I will utilize the mean to know exactly this information.

To determine the square footage, I will utilize the median because it will give me an idea of what the square footage of the particular area is at certain locations.

For the appraisal, I will utilize the mode because it will give me an idea of the different home appraisals from highest to the lowest value, and from that information I can be able to make an informed decision that will fit into my budget.

Original Response 2:

When compiling and resulting data it is important to recognize the appropriate measure of central tendency to utilize. In order to do this one must first be familiar with what each measure represents. The mean is defined as the sum of all values (in a population or a sample), divided by the total number of values. The median is the midpoint of the values after being arranged from minimum to maximum values. Finally, the mode is the value that appears most frequently (Lind, D, Marachal, W., & Wathen, S., 2015).

To determine the typical number of bathrooms and bedrooms, I would ask for the mode of this data because this will tell me what is typically or most often found in homes in a particular neighborhood. For example, if 3 bedrooms are noted in 20 homes, 4 bedrooms in 12 homes and 5 bedrooms in 6 homes, the mode (3) tells me that the typical number of bedrooms in these homes are 3.

I would utilize the median measurement when determining the typical square footage of the homes as well as the appraised home values. This measure doesn't allow the outliers or extremes to impact the result as the mean measure does. The outliers are still included in the data collection however the values are arranged in an ordinal level. The value falling in the middle of this provides a more accurate representation of the information the home buyer is seeking.