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  • XSTK 2007

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    Huzin Prince
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    1. The document discusses probability and statistics concepts like probability of events, expected values, and hypothesis testing. It provides examples calculating the probability of getting 1, 2, or more successes in coin flips and sampling from populations. 2. It also mentions estimating the average revenue of a business with a 95% confidence level and predicting days with unusually high revenue above 60 million with 99% confidence. 3. Another example calculates the expected average revenue as 35 million and recommends against taking on projects with revenues much higher than average with a 5% significance level.

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    XSTK_2007

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    1. The document discusses probability and statistics concepts like probability of events, expected values, and hypothesis testing. It provides examples calculating the probability of getting 1, 2, or more successes in coin flips and sampling from populations. 2. It also mentions estimating the average revenue of a business with a 95% confidence level and predicting days with unusually high revenue above 60 million with 99% confidence. 3. Another example calculates the expected average revenue as 35 million and recommends against taking on projects with revenues much higher than average with a 5% significance level.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    5 views1 page

    XSTK 2007

    Uploaded by

    Huzin Prince
    1. The document discusses probability and statistics concepts like probability of events, expected values, and hypothesis testing. It provides examples calculating the probability of getting 1, 2, or more successes in coin flips and sampling from populations. 2. It also mentions estimating the average revenue of a business with a 95% confidence level and predicting days with unusually high revenue above 60 million with 99% confidence. 3. Another example calculates the expected average revenue as 35 million and recommends against taking on projects with revenues much higher than average with a 5% significance level.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
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