1. J

    T-test & determining significance

    What type of t test should be used to determine the difference between baseline and most recent period? That is, is the reduction a meaningful change? Can anyone tell me if I calculated the P Value correctly?
  2. M

    Probability of a particular condition being true

    Hi all, I'm hoping this is an easy answer and I'm glad I can operate under anonymity to ask it! I have a set of data which is a subset of a population. I'll be literal just in case it helps. The subset of data is a subset of manufacturing orders. Within this subset there are some...
  3. N

    Real life stats probability

    So I'm wondering if someone can solve this problem for me. Some work was done in our kitchen yesterday and the fridge had to be moved. I noticed some pretty bad scratches on the wood floor that were clearly from the fridge. The fridge hadn't been moved for 39 days prior. So what is the...
  4. N

    Poisson/exponential question

    I thought the question was following a Poisson distribution, but the second half of the question doesn't fit. Any help would be appreciated! A tanker arrives at the Port of Southampton every two days, on average. a) What is the probability that five tankers arrive in one working week...
  5. N

    Probability question

    I'm completely stuck, any help would be appreciated! Undergraduate economists can either do a single Honours degree or a joint Honours degree. Their society has a party which they all attend. They are joined by other joint Honours students who are not doing any economics at all. 55% of...
  6. K

    Probability Question

    You are a day trader on the stock exchange and you have invested all of your life savings in a portfolio containing 6 stocks. After dwelling on the risks involved in your investment, you have come to the conclusion that if at most half of the stocks in your portfolio are profitable, your...
  7. J

    Queuing theory

    Suppose: 1) Customer Arrival Rate, A Poisson Process with λ = 12; 2) Service Time, A Exponential Distribution with μ = 1; Q: What is the average number of customers whose service requests have not yet been completed in 10 hours time (which means the customers in the queue as well as in the...
  8. C

    Markov Chains Simple Homework Question

    Hey everyone, I am really struggling to figure out how to do this homework question using Markov Chains. Any help would be greatly appreciated- When rolling dice one at a time, what is the probability that 1 followed by 2 will happen before two sixes in a row?
  9. G

    Busy Car Sharing

    Given a pool of C cars available to use by P people, the arrival rate of drivers to borrow cars is r, and the average trip time is t, how often will there be zero cars available for use?
  10. M

    Optimistic cost and pessimistic cost help

    Please can anyone tell me what is optimistic cost and what is pessimistic cost. You may suggest a book or a link where I can find explanation. I have tried to search for it but could not find anything useful. I want to solve the questions given in the link. I will be grateful to you for your...
  11. S

    Time that one of a group is at work

    If there are 3 people in a team at work and they take 30 days annual leave per year what is the probability that at least one person is in work on any single day of the year? Assume that they take leave at random times and there are 253 working days in a year. Thanks
  12. M

    Probabilty of goals in a football match?

    I am trying to work out the probability of teams scoring a goal in a football match. Obviously there are many factors to consider, and the probability is impossible to predict correctly as there are many factors that will change in a football match. However i want to figure out the probability...
  13. V

    Independent Probabilities Compounded

    There are 3 balls in a bag (A, B, & C). One ball will be chosen per draw, and then returned to the bag. Even though each draw is independent of each other, the probabilities of choosing each specific ball will change based on prior draws. For instance, the probability of choosing either of the...
  14. T

    weighting of aligned subsequences by their length

    I have a pool of subsequences, each one associated with a probability (and other properties that you don't need to know) that quantifies how frequently that subsequence occurs. In order to select those subsequences that may be part of a longer sequence (template sequence), I align them to the...
  15. V

    Compounding Independent Probabilities (Complex Die-Rolling Problem)

    You have a normal, six-sided die, with the numbers 1 through 6 on each side of the sides. One number is on each side of the die. The die is not weighted, meaning the numbers 1 through 6 have an equal probability (1 out of 6) of being rolled. All rolls are independent of one another. However, the...
  16. J

    Ploting Positions from Peak Over Thresold Series

    Hello. I have a little confusing with some aspect related to the Peak Over Thresold Series and differencing the methodology of analysis from that of the Maximum Annual Series. For example, for a daily series can one does this?: 1. Order the data (several years or a non-integer number of...
  17. A

    Help with the statistics

    Violations 0 0 1 2 3 4 5 >5 Fine A$1000 0 0 10 10 10 20 50 (Please note from the table that 0 violations = 0 fines, 1 violation = 0 fines, 2 violations = $10,000 fine, 3 violations = $10,000 fine, 4 violations = $10,000 fine, 5 violations = $20,000 fine, More than 5 violations = $50,000...
  18. B

    What is the formula (using binomial combination) for determining raffle probability?

    Specifically, here is the setup: - There is a raffle with 1,000 tickets purchased (t) - I had purchased 10 of those tickets (p) - There are 40 random drawings (d), without replacement, to determine the winners What are the chances of having a specific number (w) of the winning...
  19. B

    probability of lottery type returns

    I am having trouble determining the probability of returns in a game strategy. Here is the example: You are at a carnival and walk up to the raffle. It costs $5,000 for each ticket to play the carnival raffle. Here is the game • There have already been 300 raffle tickets purchased and placed...
  20. A

    Prove the sum of two CDF's is a CDF.

    This is a question my instructor asked in the last midterm exam but nobody was able to solve and he's suggesting it may come out again in the finals: If F(x) and G(X) are two CDF's, prove that H(X) is also a CDF if H(X) = F(X)+G(X)-F(x)G(X) He said something about right continuity but I...