Given the data made available, how might you structure the
analysis to prove whether fantasy sports...
Given the data made available, how might you structure the
analysis to prove whether fantasy sports is a skills-based or
chance-based game. Include what hypothesis or statements a company
might make to prove that fantasy sports is
skill-dominant. Dream11 platform has both free and paid
users. Can the average scores of users be used to test whether this
is a skills-based or chance-based game? Also State whether you
believe fantasy sports is skills-based or chance-based and why
using the information and...
This lesson asked you to investigate what it means for data to
fall within 1, 2,...
This lesson asked you to investigate what it means for data to
fall within 1, 2, and 3 standard deviations from the mean in a
variety of normal distribution curves. Imagine that you hold a
position on your city council and are in charge of creating new
programs to benefit members of your community. In some cases, you
must also decide which parts of the population are eligible for
enrollment in a given program. How might the concept of standard...
The rate is fixed for all loans made
under this program, but the bank has the...
The rate is fixed for all loans made
under this program, but the bank has the discretion whether or not
to approve a particular loan. Steve, a loan officer at the Bank, is
reviewing an application under this program from Cat, a small
business owner. If Cat repays the loan as per the terms of the
loan, the Bank will earn a profit of $15,000. (All earnings are
reported as present values.) However, if Cat defaults on the
loan, the...
You might think that if you looked at the first digit in
randomly selected numbers that...
You might think that if you looked at the first digit in
randomly selected numbers that the distribution would be uniform.
Actually, it is not! Simon Newcomb and later Frank Benford both
discovered that the digits occur according to the following
distribution: (digit, probability)
(1,0.301),(2,0.176),(3,0.125),(4,0.097),(5,0.079),(6,0.067),(7,0.058),(8,0.051),(9,0.046)(1,0.301),(2,0.176),(3,0.125),(4,0.097),(5,0.079),(6,0.067),(7,0.058),(8,0.051),(9,0.046)
The IRS currently uses Benford's Law to detect fraudulent
tax data. Suppose you work for the IRS and are investigating an
individual suspected of embezzling. The first digit of 145 checks
to a supposed company...
1.)You are curious about how people feel about craft beer, so
you gather data from 55...
1.)You are curious about how people feel about craft beer, so
you gather data from 55 people in the city on whether or not they
like it. You code your data so that 0 is neutral, positive scores
indicate liking craft beer, and negative scores indicate disliking
craft beer. You find that the average opinion was X̅ = 1.10 and the
spread was s = 0.40, and you test for a difference from 0 at the α
= 0.05 level....
Case Analysis 1: You work for a small, local telecommunications
company. In five years, the company...
Case Analysis 1: You work for a small, local telecommunications
company. In five years, the company plans to undertake a major
upgrade to its servers and other IT infrastructure. Management
estimates that it will need up to $450,000 to cover all related
costs; however, as a fairly young company, the goal is to pay for
the upgrade with cash and not to take out loans. Right now, you
have $300,000 in a bank account established for Capital
Investments. This account...