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Probability topics

Class time:

Names:

Student learning outcomes

  • The student will use theoretical and empirical methods to estimate probabilities.
  • The student will appraise the differences between the two estimates.
  • The student will demonstrate an understanding of long-term relative frequencies.

Do the experiment

Count out 40 mixed-color M&Ms® which is approximately one small bag’s worth. Record the number of each color in [link] . Use the information from this table to complete [link] . Next, put the M&Ms in a cup. The experiment is to pick two M&Ms, one at a time. Do not look at them as you pick them. The first time through, replace the first M&M before picking the second one. Record the results in the “With Replacement” column of [link] . Do this 24 times. The second time through, after picking the first M&M, do not replace it before picking the second one. Then, pick the second one. Record the results in the “Without Replacement” column section of [link] . After you record the pick, put both M&Ms back. Do this a total of 24 times, also. Use the data from [link] to calculate the empirical probability questions. Leave your answers in unreduced fractional form. Do not multiply out any fractions.

Population
Color Quantity
Yellow ( Y )
Green ( G )
Blue ( BL )
Brown ( B )
Orange ( O )
Red ( R )
Theoretical probabilities
With Replacement Without Replacement
P (2 reds)
P ( R 1 B 2 OR B 1 R 2 )
P ( R 1 AND G 2 )
P ( G 2 | R 1 )
P (no yellows)
P (doubles)
P (no doubles)

Note

G 2 = green on second pick; R 1 = red on first pick; B 1 = brown on first pick; B 2 = brown on second pick; doubles = both picks are the same colour.

Empirical results
With Replacement Without Replacement
( __ , __ ) ( __ , __ ) ( __ , __ ) ( __ , __ )
( __ , __ ) ( __ , __ ) ( __ , __ ) ( __ , __ )
( __ , __ ) ( __ , __ ) ( __ , __ ) ( __ , __ )
( __ , __ ) ( __ , __ ) ( __ , __ ) ( __ , __ )
( __ , __ ) ( __ , __ ) ( __ , __ ) ( __ , __ )
( __ , __ ) ( __ , __ ) ( __ , __ ) ( __ , __ )
( __ , __ ) ( __ , __ ) ( __ , __ ) ( __ , __ )
( __ , __ ) ( __ , __ ) ( __ , __ ) ( __ , __ )
( __ , __ ) ( __ , __ ) ( __ , __ ) ( __ , __ )
( __ , __ ) ( __ , __ ) ( __ , __ ) ( __ , __ )
( __ , __ ) ( __ , __ ) ( __ , __ ) ( __ , __ )
( __ , __ ) ( __ , __ ) ( __ , __ ) ( __ , __ )
Empirical probabilities
With Replacement Without Replacement
P (2 reds)
P ( R 1 B 2 OR B 1 R 2 )
P ( R 1 AND G 2 )
P ( G 2 | R 1 )
P (no yellows)
P (doubles)
P (no doubles)

Discussion questions

  1. Why are the “With Replacement” and “Without Replacement” probabilities different?
  2. Convert P (no yellows) to decimal format for both Theoretical “With Replacement” and for Empirical “With Replacement”. Round to four decimal places.
    1. Theoretical “With Replacement”: P (no yellows) = _______
    2. Empirical “With Replacement”: P (no yellows) = _______
    3. Are the decimal values “close”? Did you expect them to be closer together or farther apart? Why?
  3. If you increased the number of times you picked two M&Ms to 240 times, why would empirical probability values change?
  4. Would this change (see part 3) cause the empirical probabilities and theoretical probabilities to be closer together or farther apart? How do you know?
  5. Explain the differences in what P ( G 1 AND R 2 ) and P ( R 1 | G 2 ) represent. Hint: Think about the sample space for each probability.

Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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