{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

plugin-Chapter 17 Students

# plugin-Chapter 17 Students - Thinking About Chance CHAPTER...

This preview shows pages 1–5. Sign up to view the full content.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
THOUGHT QUESTION 1 Here are two very different probability questions: If you roll a 6-sided die and do it fairly, what is the probability that it will land with “3” showing? What is the probability that in your lifetime you will travel to a foreign country other than one you have already visited? For which question was it easier to provide a precise answer? Why? For which one could we all agree?
TWO CONCEPTS OF PROBABILITY Personal-Probability Interpretation The degree to which a given individual believes the event in question will happen Personal belief Relative-Frequency Interpretation The proportion of time the event in question occurs over the long run “Long - run relative frequency”

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
THE IDEA OF PROBABILITY When we toss a fair coin, we can’t predict what the next flip will be. However, because of probability, we can predict that, after a large number of flips, roughly 1/2 of our flips will be “heads” and roughly 1/2 of our flips will be “tails.” This is how chance behavior works.
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern