Question
I am asked to compare the probability and odds with my data I provided below: Create a data set of 30 values that you feel
I am asked to compare the probability and odds with my data I provided below:
Create a data set of 30 values that you feel could represent a group of student final exam scores. You will invent these values. Be sure that your data set is unique. Write your data here.
50, 54, 58, 60, 63, 63, 65, 65, 69, 70, 75, 78, 78, 79, 79, 80, 82, 82, 85, 86, 88, 88, 90, 92, 93, 95, 95, 95, 100, 100
Create a frequency table using your data. Choose appropriate ranges. Include the frequency table:
Range | Frequency | Relative Frequency |
90 - 100 | 8 | 8/30 = 0.2666 = 26.7% |
80 - 89 | 7 | 7/30 = 0.2333 = 23.3% |
70 - 79 | 6 | 6/30 = 0.2 = 20% |
60 - 69 | 6 | 6/30 = 0.2 = 20% |
50 - 59 | 3 | 3/30 = 0.1 = 10% |
Total | 30 | 100% |
Given your frequency table results, what is an estimate of the probability that a student will get a grade of "B" or better, and why?
Given the results in the frequency table 8 (26.7%) students receivedan A and 7 (23.3%) students received a B. The estimate probability that a student will get a great of B or better is 50%.
Think about examples in your daily life, at home or at work, where you use subjective and relative probability. Give examples of each and how they affect your decision making.
I have never used relative probability in my daily life at work, but after completing this assignment I can see where I can apply these practices. I analyze customer services responses that we get from the public. By analyzing the different questions offered in this survey, I could estimate the probability of how many people will be satisfied with our services.
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