Statistics for Decision Making/ MATH-221

Week 3 Discussion

The odds of winning a game are given as 1:25. What is the probability that you will win this game? What is the probability that you will lose this game? In your follow up replies, consider which number in the odds ratio needs to change and how in order to increase the probability of winning. (Note: see page 145 in the text for a discussion on odds.)

Week 4 Discussion

Provide an example that follows either the binomial or Poisson distribution, and explain why that example follows that particular distribution. In your responses to other students, make up numbers for the example provided by that other student, and ask a related probability question. Then show the work (or describe the technology steps) and solve that probability example.

Week 5 discussion

Assume that a population is normally distributed with a mean of 100 and a standard deviation of 15. Would it be unusual for the mean of a sample of 3 to be 115 or more? Why or why not?