MSc Regulation and Competition

... b) Construct a 95% confidence interval for the average height in a random sample of four individuals. ...

... b) Construct a 95% confidence interval for the average height in a random sample of four individuals. ...

Certain, impossible, event, mutually exclusive, conditional, bias

... 1) What is the probability of picking a vowel from the letters MRS MARSHALL? 2) Which is more likely- rolling a prime number on an ordinary 6 sided dice, or rolling a square number? 3) What is the probability of picking an S out of the letters MISSISSIPPI? 4) The probability I pass a test is 0.8, wh ...

... 1) What is the probability of picking a vowel from the letters MRS MARSHALL? 2) Which is more likely- rolling a prime number on an ordinary 6 sided dice, or rolling a square number? 3) What is the probability of picking an S out of the letters MISSISSIPPI? 4) The probability I pass a test is 0.8, wh ...

Convergence

... of random variables {Xn}, n=1,2,… is said to converge to a random variable X in probability if for any e>0 and d>0 there exists an integer N such that for all n > N we have P(|Xn-X| 1- d.
...

... of random variables {Xn}, n=1,2,… is said to converge to a random variable X in probability if for any e>0 and d>0 there exists an integer N such that for all n > N we have P(|Xn-X|

A probability box (or p-box) is a characterization of an uncertain number consisting of both aleatoric and epistemic uncertainties that is often used in risk analysis or quantitative uncertainty modeling where numerical calculations must be performed. Probability bounds analysis is used to make arithmetic and logical calculations with p-boxes.An example p-box is shown in the figure at right for an uncertain number x consisting of a left (upper) bound and a right (lower) bound on the probability distribution for x. The bounds are coincident for values of x below 0 and above 24. The bounds may have almost any shapes, including step functions, so long as they are monotonically increasing and do not cross each other. A p-box is used to express simultaneously incertitude (epistemic uncertainty), which is represented by the breadth between the left and right edges of the p-box, and variability (aleatory uncertainty), which is represented by the overall slant of the p-box.