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- Elementary statistics
- Discrete random variables
- Practice 2: binomial distribution
This module provides a practice of Binomial Distribution as a part of Collaborative Statistics collection (col10522) by Barbara Illowsky and Susan Dean.
Student learning outcomes
- The student will construct the Binomial Distribution.
Given
The Higher Education Research Institute at UCLA collected data from 203,967 incoming first-time, full-time freshmen from 270 four-year colleges and universities in the U.S. 71.3% of those students replied that, yes, they believe that same-sex couples should have the right to legal marital status.
(
Source: http://heri.ucla.edu/PDFs/pubs/TFS/Norms/Monographs/TheAmericanFreshman2011.pdf). )
Suppose that you randomly pick 8 first-time, full-time freshmen from the survey. You are interested in the number that believes that same sex-couples should have the right to legal marital status
Interpret the data
In words, define the random Variable X.
= the number that reply “yes”
What values does the random variable
take on?
Construct the probability distribution function (PDF).
On average
, how many would you expect to answer yes?
What is the standard deviation
?
What is the probability that at most 5 of the freshmen reply “yes”?
What is the probability that at least 2 of the freshmen reply “yes”?
Construct a histogram or plot a line graph. Label the horizontal and vertical axes with words. Include numerical scaling.
Questions & Answers
differentiate between demand and supply
giving examples
differentiated between demand and supply using examples
Lambiv
how is the graph works?I don't fully understand
hi guys good evening to all
Lambiv
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
Can I ask you other question?
Shukri
What is different between quantity demand and demand?
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
how do you save a country economic situation when it's falling apart
what is the difference between economic growth and development
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
any question about economics?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:
OpenStax, Elementary statistics. OpenStax CNX. Dec 30, 2013 Download for free at http://cnx.org/content/col10966/1.4
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