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Calculate the variance and the standard deviation of this binomial distribution.

S M 9115 Data Analytics for Decision Making 2 Problem 1 (35 pts) A hotel manager wants to analyze the nationality of the guests who stayed at the hotel during the last month. The data shows that approximately 20% of the guests were from Germany. Suppose that you choose randomly 50 guests: Find the probability […]

Construct a probability distribution for your net win (X) in the series. Calculate your expected net win (E(X)) and the standard deviation of X.

One Entry Level Statistics Task Problem: Suppose that Boston Celtics and Miami Heat (two American NBA teams) are scheduled to play a best of three (3) series. The winner of the series will be the first team that wins two of the three games. The probability that Boston Celtics wins a game in their home […]

How can a Simulation Model help with your work? For example, In the electrical industry (electrician) a Simulation Model could be use to determine or used for etc.

1. How can a Simulation Model help with your work? For example, In the electrical industry (electrician) a Simulation Model could be use to determine or used for etc 2. What Probability Distribution ( for example: triangular distribution, discrete distribution, or shewed distribution etc.) could you apply to this working scenario or one that I […]

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