Binomial Distribution - Statistical Decision Techniques for Managers

Alex_Blackstone
Case3spreadsheetanswerfile1.xlsx

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Notes Teams: Reproduce this on .xls with formulas
CASE 3 Send Money Go to Wheel Decide Bookmark. Spin wheel and
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Testing p in 70% of college students (p=.70) get money from parents.
Exploring the Binomial Distribution (Chapter 6, class 2)
Discovery Exercise 6.1 DTM p. 260 Pelosi
X=total # of successes Running total # of Running total # of Estimate of p
in 5 trials successes Sampled
Sample Observation Numbers
Number
1 1 2 3 4 5
2
3
4
5
6
7
8
9
10
Computed Result for p, ten trials <--insert Average
Theoretical p <--insert Average
Difference? <--insert difference
Conclusion?
<--Write your conclusion here
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