MATH309 - Statistics

Week 7 - Homework DeadlineDue by the end of Week 7 at 11:59pm, ET.

Directions

After reviewing the chapter readings and videos, complete Part 1 and Part 2 in one Excel file, then submit it in the homework folder in Blackboard.

Videos:

Video 1 (calculating combinations & permutations in Excel):https://www.youtube.com/watch?v=f7mMUoB1VLI

Video 2 (calculating lottery probabilities):https://www.youtube.com/watch?v=_aBKxnUtIOk&t=57s

Video 3 (confidence interval & margin of error):https://www.youtube.com/watch?v=dNfpsVLaaEE&t=39s

Part 1: Answer these three questions inside of your Excel file:

1. What is a confidence interval?

2. What is the interpretation of your confidence interval in your assignment?

3. Why do we need confidence intervals in statistics?

Additional information before your start Part 2:

Please use the below formula for developing the combination i.e., the number of ways of choose n numbers k at a time...The Excel formula is=COMBIN(n,k).This will tell you the number of combinations given a number n chosen k at a time.For instance, if you calculated in Excel=COMBIN(49,5) ...this will calculate the number of combinations of numbers 1 thru 49 chosen 5 at a time.For instance, 1,2,3,4,5 would be one of those combinations. ]

Next, come up with the Probability = 1 / (n chosen k at time ).Note that the denominator is the =COMBIN(n,k) value.

Therefore, if you wanted to come up with the probability of winning buy purchasing 1 lottery ticket, given a 49 number lottery where you can choose 5 numbers....here is the calculation that you need to complete:

Probability of Wining ( 1 ticket) =1/[ COMBIN (49,5) ]

Part 2 (answer these questions in Excel using the definition of probability and the =COMBIN(n,k) formula in Excel):

(4) What is the Probability of winning a lottery where you choose 5 out of 49 numbers in a lottery

(5) What is the Probability of winning a lottery where you choose 4 out of the 49 numbers in a lottery

(6) The probability of choosing 8 of the 49 numbers in a lottery, and

(7) the probability of choosing 2 out of the 49 numbers in a lottery.

Please also answer the below by research on the Internet and/or using YouTube:

(8) What is a confidence interval and margin of error?

(9) How is a confidence interval and margin of error calculated?

(10) Why do we need confidence intervals in statistics?Give an example of a confidence interval and margin of error