Chapter 5 and 6 Notes - Chapter-5 and 6 Probability...

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Chapter-5 and 6 Probability Distributions Outline: §5.4: Binomial Probability Distribution §6.2: Normal Probability Distribution Binomial Probability Distribution: Properties of a Binomial Experiment: 1. The experiment consists of a sequence of n identical trials. 2. Two outcomes, success and failure , are possible on each trial. 3. The probability of a success, denoted by p , does not change from trial to trial. 4. The trials are independent. Binomial Probability Function: where: f ( x ) = the probability of x successes in n trials n = the number of trials p = the probability of success on any one trial
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Review on Computing Probability: 1. Counting Rule for Combinations: Count the number of experimental outcomes when n objects are to be selected from a set of N objects. => Number of combinations of N objects taken n at a time where N! = N(N - 1)(N - 2) . . . (2)(1) n! = n(n - 1)( n - 2) . . . (2)(1) 0! = 1 2. Using tree diagram: Coin toss diagram can also be used to find probabilities tree of the outcomes and then combined to give probabilities associated with the random variable.
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Example1: Evans Electronics Evans is concerned about a low retention rate for employees. On the basis of past experience, management has seen a turnover of 10% of the hourly employees annually. Thus, for any hourly employees chosen at random, management estimates a probability of 0.1 that the person will not be with the company next year. Choosing 3 hourly employees at random, what is the probability
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This note was uploaded on 12/06/2011 for the course MGMT 305 taught by Professor Priya during the Fall '08 term at Purdue University-West Lafayette.

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Chapter 5 and 6 Notes - Chapter-5 and 6 Probability...

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