1 which of the above versions of the law of averages are, Ask an Expert

Statistics

1. Which of the above versions of the "law of averages" are correct interpretations of probability?

2. Here is a sequence of flips of a fair coin:

a. How many heads would you expect to have after 10 flips of a fair coin? ("Expect" is a technical term that means about the same as "average." This question means, "On the average, how many heads do people get after flipping a coin 10 times?")

b. In the sequence above, what is the actual number of heads after 10 flips? What is the percentage of heads after 10 flips?

c. How many heads would you expect to have after 50 flips of a fair coin?

d. In the sequence above, what is the actual number of heads after 50 flips? What is the percentage of heads after 50 flips?

What many people find counterintuitive about the answers to question #3 is that the percentage of heads gets closer to 50% while the actual number of heads gets fur~ ther away from half the total number of flips. In fact, the law of large numbers tells us that this is what we can expect.

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92210744

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

You are leasing a car for 48 months you put down 2000 now

You are leasing a car for 48 months. You put down $2000 now and agree to $500 monthly payments. The residual value is $15,000. The financing rate is 8% (monthly compounded). How much is the car worth?

100 people are invited to the party each guest is estimated

100 people are invited to the party. Each guest is estimated to eat 0 or 1 or 2 sandwiches with probabilities 0.2,0.50.3 respectively. How many sandwiches should be ordered ro be approx 90% confident that there will be e ...

In 1896 the first us open golfnbspchampionship was held the

In 1896, the first U.S. Open Golf Championship was held. The winner's prize money was $160. In 2012, the winner's check was $1,360,000. Requirement 1: What was the annual percentage increase in the winner's check over th ...

Please explain which formula i should use to complete the

Please explain which formula I should use to complete the following probability question: The probability that a family will buy a vacation home in Miami, malibu, or newport is 0.25, 0.10 and 0.35. What is the probabilit ...

The contents of a particular bottle of shampoo marked as

The contents of a particular bottle of shampoo marked as 150 ml are found to be 153 ml at an average, with a standard deviation of 2.5 ml. What proportion of shampoo bottles contain less than the marked quantity? Assume ...

A researcher wants to determine if lead levels are

A researcher wants to determine if lead levels are different between the top of a glass of water and the bottom of a glass of water. Many samples of water are taken. From half, the lead level at the top is measured and f ...

In a pre-election poll a candidate for district attorney

In a pre-election poll, a candidate for district attorney receives 379 of 750 votes. Assuming that the people polled represent a random sample of the voting population, test the claim that a majority of voters support th ...

If we are interested in job satisfactionname a variable

If we are interested in job satisfaction. Name a variable that correlates with job satisfaction but we do not have causation. Name a variable that you believe may have a casual relationship with job satisfaction. Name a ...

Letnbspxbar6nbspdenote the sample mean of a

Let X(bar) 6 denote the sample mean of a sample X 1 , X 2 , ..., X 6 from Unif (-1, 3). (a) What is the expected value of X(bar) 6 ? (b) What is the variance of X(bar) 6 ?

If the coefficient of determination is 0233 what percentage

If the coefficient of determination is 0.233, what percentage of the data about the regression line is explained? How do I go about solving this?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert