Statistics

1. Everything that we discuss in Chapter 4 Probability Concepts is based upon the equal-likelihood model of probability. This topic will also arise later
   on in this course. Thus, it is essential that students understand this model.
   (a) What is the equal-likelihood model of probability? Explain this model in your own words.
   (b) Describe how the formula f/N is used to compute probabilities. Provide an original example where you use this formula to compute a probability.
   Make sure that you identify what f and N represent within your formula. If applicable, make sure that you simplify your final result.
   (c) Within the context of the explanation that you provided for (a) and original example for (b), discuss how the equal-likelihood model of probability
   applies. You need to convice us that you understand mathematically the importance of this model in the determination of probability.
2. Remember that probability can arise within both calculations involving f/N and those involving finding the odds in favor or odds against an event
   occurring.
   (a) Describe how one computes the odds in favor as well as the odds against an event E occurring.
   (b) Provide an original example where you compute the odds in favor and the odds against and event occuring.
   Within each example, identify what constitutes as a success and failure.
   Within each example, identify the number of successes and failures.
   If applicable, make sure that you simplify your final result

Sample Solution