Question: Suppose you are coding a simulation in order to estimate the probability of some event. So you simulate the random experiment times, and keep track

Suppose you are coding a simulation in order to estimate the probability of some event. So you simulate the random experiment times, and keep track of the proportion of times that the event happens. When you stop, will be your estimate of the true probability . We would like our estimate to be within 0.02 of the correct .

Question: How big should be to guarantee that the probability that is more than 0.02 away from is less than 0.05?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Page 1 > of 7 INTRODUCTION Probability problems are interesting statistics problems. One way to approach probability problems is to simulate an experiment many times to give an idea of what would...

Introduction and learning objectives When you were learning about operational analysis earlier in the term, we talked about jobs that require multiple visits to the CPU (or servers) to receive their...

1. OnJuly 7, 2010, The Gallup organization conducted a telephone poll of 1,007 random adults in all 50 U.S. states and the District of Columbia. They found that 38% strongly opposed the federal...

2) Is Pink the best mix of Red and White? There's no rule that says a portfolio has to be an equal mix of two investments. (a) Find the mean and variance of a portfolio that has 60% invested in White...

Assignment 4A. Theory Component Show your work for this component. Where relevant, keep all your middle work as well as your final answer to a minimum of four decimals, unless otherwise stated. For...

Stat 1350 - Elementary Statistics Graded Homework Assignment 9Unit 8, Lessons 1-2 Lesson 1 1. Choose one of the five experiments given below to complete: Nickels spinning. Hold a nickel upright on...

Question 1 1 pts Part I. Relative Frequency Suppose a random experiment is repeated many times, for example, a fair coin is ipped 1000 times. The outcome from a single ip of the coin is either Heads...

4 Assignment 4 consists of a theory component (4A, worth 80%) and a computer component (4B, worth 20%). The grades allocated are summarized below. Assignment Grade weight Assignment 4A. Theory...

a)What is the result of 0xAB+ 0x12? Please write with an explanation. b) Which is the correct representation of -127 in 16 bit signed integer format? Please write with an explanation. c) What is the...

We normally consider the gravitational force of the earth on an object of mass m to be given by the constant F = - g mk, but, of course, this is valid only in regions near the earth's surface. Find...

1. Is your companys strategy ethical? Why or why not? Is there anything that your company has done or is now doing that could legitimately be considered shady by your competitors?

Question 3 4 of 5 0 Select two examples of what an environment of psychological safety looks like on a team. Physical space is structured for well - being and there are regular group mental breaks....

Does this situation involve the organizations relationship with another group? If yes, what group(s)?

Might information (quality or quantity) affect how this situation is resolved?

What priority does this situation hold for the public relations/communications staff and for the organizations top management?