Probability distribution

1. What is a probability distribution? What is a continuous probability distribution? Provide an example from business of the usefulness of a probability distribution and/or a continuous probability

2. What are the differences in the various types of sampling? Discuss the concept of confidence intervals. What factors will you consider when determining sample size?

3. What is a hypothesis and discuss what you believe to be the most critical element in the procedure for testing a hypothesis?

4. Discuss why we would expand the idea of hypothesis testing to two populations. Can you provide an example of this type of hypothesis testing?





Sample Solution