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Remond Harvey on Thu, May 28 2020, 12:08 PM

 

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1. 1Another student's paper https://online.columbiasouthern.edu/webapps/mdb-sa-bb_bb60/img/icon-highlighter.png

2. 2Another student's paper https://online.columbiasouthern.edu/webapps/mdb-sa-bb_bb60/img/icon-highlighter.png

3. 3Another student's paper https://online.columbiasouthern.edu/webapps/mdb-sa-bb_bb60/img/icon-highlighter.png

4. 1 Pioneer Aircraft Company stays closed for two weeks in a year.  It means out of fifty-two weeks of the year company remains in business for fifty weeks. 2 With this information provided, we can easily determine the probability of each number of planes that sold in during the year.  The number of planes sold 0 per week happened 40 times.  3 The probability for the company for selling 0 planes per week is equal to 40 weeks which is divided by the total number of business weeks which is fifty.  So in this, its probability is equal to 0.8. 3 Hence the probability of zero planes per week to sold is 0.8 in out of fifty business week period.

5. 2 With that information provided, we can easily determine the probability for complete information of each plane sold during by the year.  For a number of planes sold one in a week, that happened eight times in the year. 2 The probability for the company sold one plane in a week is equal to 8 weeks.  3 Hence in this number of weeks which is equal to 8 divided by total business weeks which is equal to fifty.  So we have a probability of 0.16. 2 Therefore probability for one plane sold in a week is equal to 0.16 in a total business week period.

6. With that information provided, we can easily determine the probability for complete information of each plane sold during by the year.  For the number of planes two sold in a week that happened one time in the year.  The probability for the company sold two planes in a week is equal to 1 week.  Hence in this number of weeks which is equal to 1 divided by total business weeks which is equal to fifty. So we have a probability of 0.02. 2 Therefore probability for one plane sold in a week is equal to 0.02 in a total business week period.

7. With the information provided, we can easily determine the probability for complete information of each plane sold during by the year.  For the number of planes three sold in a week that happened one time in the year.  The probability for the company sold three planes in a week is equal to 1 week.  Hence in this number of weeks which is equal to 1 divided by total business weeks which is equal to fifty. So we have a probability of 0.02. 2 Therefore probability for one plane sold in a week is equal to 0.02 in a total business week period.

8. We used the relative frequency approach that we note that the idea of the relative frequency of event and models of long term behavior plays a vital role.  We use a “frequency approach” for the probability of event-based observations, and the relative frequency is convergence for an event that is repeated in random trials in order to understand the short-term unpredictability of the randomness phenomena and the long-term regularity that is a probability which describes.  And also the frequentist approach that will be useful in providing an approximation of a real probability which is a sufficiently large sample.  Then we will able to compare empirical result that is obtained by observation of frequencies, while the theoretical result obtained by observation of frequencies and the theoretical result obtained by that approach.  By observing divergence, it may help them to become aware of misconception.  One of the fundamental experiment Ω that is executed multiple times under similar conditions.  For each of event Y of Ω, n(Y) is the number of event Y that occurs during in first n repetitions of the experiment.  Some of the inconveniences that maybe not known if n(Y) will converge for a constant limit, and it will be the same for each sequence of duplications of the experiment.  In case of the jet, a piece for eg can be we sure that portion of piles on first n jets that will tend to reverse a given limit while n raises to infinity?  In case if it converges to a certain value, it can be sure that we will get the same proportion of batteries again experiment repeated for the second time?

9. We did not use the classical approach because it involves personal or maybe interpersonal assessment for the effects of chance in future events.  It is kind of speculations for the future from elements that are known or supposed to constitute to present.  The concept of “probability” associated with the concept of “chances”, “occurrences”, “expectations”, “belief”, ”trust” and credibility. 2 “Classic” definition based on a principle.  The event that observed, in the end, is a process where changes occur in reducible to a system of “cases” for the same possibilities or judged. 2 The hypothesis depends on capacities of subject for analyzing in different cases and considers them in equivalent from the point of view of possibilities.  It is called Subjective approach.

10. Objective probability is the probability that may be verified empirically by repletion in an experiment under the same conditions.  In the case of subjective probability, it cannot or can hardly be confirmed by experience.  For eg probability of you pass in your Master Diploma different from next year, let us assume you pass the last exam.

11. It is not possible that the experiment not be repeated indefinitely.  In other words, if you had an opportunity to repeat the exam one million times, you could not do under the same conditions.  If you attempt it 9th time, you are away behind from level that you have from the first time; 2 you have no longer the same age and same stress.  So in this way you can only give subjective estimations that are based on your personal feelings of that type.  I work well and feel that I succeed that have 80% chance.  Subjective probability set of judgments that carried by hypothetically and individual importantly flow from assumptions to which freely indulges under uncertainty of conditions.  While in case of Objective Probability it is based on something that concrete and noticed a statistic for eg Probability is a branch of mathematics that deals with the calculation of the probability of occurrence of a given event, expressed in numbers between 1 and 0.  An event with a probability of 1 can be considered as a certainty.  Data change is directly related to the approach for probability where you use it. Because Pioneer company which builds aircraft sell an only single type of aircraft in their company, and all its client are looking for their product because it’s the only one with the quality product in the market competing. 2 If the company starts producing and selling aircraft with GPS, Pioneer will attract more clients, enabling customers to have a choice selection.  When the company starts offering a different type of planes to its customers, the probability for people to buy a plane with a build-in GPS will affect the sales of the original aircraft.  But the approach of using the probability for their use would not be affected at all, nor would it be changed. 2 An example is a coffee shop that only sale coffee will only see one probability in its business because people can only buy coffee in the coffee shop.  Whereas when the company starts their sales for espresso, the behavior or technique of people buying the product that is espresso coffee can be altered, but the basic technique of determining the probability cannot be changed. Another example of the probability for this case is the probability of picking a red marble out of a bowl with two red and eight green. So these type of examples helps us out in real-life solutions and problems too. Company’s selling techniques could easily be enhanced, and profit margins could increase by the increase of probability in selling aircraft to the clients.

12. Concluding the statements on the pioneer aircraft company holds a better position for the selling of aircraft when the probability of the selling aircraft are more if GPS includes the statement of purpose in selling area.

13. References

14. 2 Prasanta, S., B.  (2011). 2 Philosophy of Statistics.  [N.p.]: North Holland.

15. Pons, O. (2012). 2 Inequalities In Analysis And Probability.  Singapore: World Scientific.

16. 2 Render, B., Stair, R.  M., Jr., Hanna, M.  E., & Hale, T.  S. (2015). 2 Quantitative analysis for management (12th ed.).  Upper Saddle River, NJ:  Pearson.

17. United, N. (2013). 2 Guidelines on Integrated Economic Statistics.  New York: 2 United Nations Publications.