mba 522 The At Least Problem

mba 522 The At Least Problem - Understanding Two Terms: At...

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Understanding Two Terms: At Least vs. No More Than Students often mix up these terms when answering probability questions! Here are two non-threatening English examples. Just use the same interpretation when working with numbers in a statistics class. At Least A student says: This chapter is very difficult. I think I need “at least” 7 hours of study time before I fully understand it. Analysis: At least 7 hours implies that anything equal to or greater than 7 hours will be sufficient. On the other hand if he spends less than 7 hours, he will not be successful. Hours ≥ 7 will lead to success. hours < 7 will not lead to success. No More Than I am at a store with my daughter who is now on an allowance and can’t use my hard-earned dollars very freely when she is shopping. She picks up a skirt and it does not have a tag, so she must look for a manager to ask the price. She tells me that she really likes it, but she would pay “ no more than” $10 for it. Analysis: No more than $10 implies anything less than or equal to ten dollars is fair. But if the manager
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