QNT 275 Week 3 Probability – Learning Activities Required (Participation Responses)

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QNT 275 Week 3 Probability – Learning Activities Required (Participation Responses)
QNT 275 Week 3 Probability – Learning Activities Required (Participation Responses)
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Year: 2016
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QNT 275 Week 3 Probability

Learning Activities Required

    • 3.1 Differentiate between discrete, continuous, and conditional probability.

    • 3.2 Apply probabilities to support business decision making.

    • 3.3 Describe characteristics of standard normal distribution.

 

 

Learning Activities  Required

 

Probability and Conditional Probability in Business Decision Making

Random Variable

Essentials of Business Statistics, Ch. 4

Essentials of Business Statistics, Ch. 5

Essentials of Business Statistics, Ch. 6

The Multiplication Rule

Week 3 Learning Team Collaboration Discussion: Probability

Resource: Case Study 5.2 in Chapter 5 of Essentials of Business Statistics

Calculate the requested probabilities for items 1-3.

Discuss your findings for the probabilities.

  • What was the smoking trend from 1997-2007?

  • Is this a discrete, continuous, or conditional probability? Why?

  • How do probabilities help you understand trends in data?

  • What steps might you recommend, related to smoking behavior, based on this trend?