1) Imagine yourself at a fair playing one of the midway games. Pick a game and calculate the expected value and post your results along with how you calculated them. For example, you may decide to throw a basketball to try to win a $10 bear. You paid $2.00 for three shots. What is the expected value? (Please do not use this example in your answer) 2- Go to a local library; collect a sample of books consisting of the ages of book (based on copyright dates). Plan and describe the sampling procedure, then use the results to construct a confidence interval estimate of the mean age of all books in the library. Please, post and share your results with the class. 3-Use the mean and the standard deviation obtained from the last module and text the claim that the mean age of all books in the library is greater than 2005. Share your results with the class.

 

Question no 1

I went bowling in a mall last week, and there were 20 balls in a throw. It means that either we can pay for 20 or nothing. It was up to us how we utilized 20 balls. One throw was 10 USD, and we were 7 seven friends in total. We decided to go for two throws each, and we paid 140 USD for the game. The calculation was simple as each throw required 10 dollars, and it became 20 dollars per person for two throws. We were seven in total, so 20 multiplied seven, and the answer was 140 USD. It was economical, and we enjoyed it a lot. There are many such games where we have to pay, but there are certain rules and regulations, and there is a fixed payment for it. Overall, it was a good experience to play the game with my friends.

Question no 2

The sampling procedure was systemic random because I had set the criteria to collect the books published in 2005 and onwards. I collected 20 books, and all of them were of nursing. The sample size was 20, and there were almost 5000 books in the library. It was shown that the confidence interval was 0.05, and the mean age was book above 2005. It was seen that the calculation of confidence interval was not easy because the module has made us learned about these techniques recently, so I have made use of fewer samples. As the sample increases, the confidence interval and mean also continue to increase. The small sample size helped me to calculate things easily. However, I have learned that a 0.05 confidence interval is usually taken as standard, so I have used it as well. The results were up to the expectations, and the sampling technique was appropriate.

Question no 3

The mean and standard deviation are calculated together, and there is different software for the calculation. The software does the calculations if they are complex or if there is a big data set. To avoid the complexity in the calculation and the use of software, I took the small sample size and claimed that all the books were above the year 2005 because I already collected the books by myself. It was taken as primary research. The confidence interval was 0.05, and the mean and standard deviation showed the books in the years from 2006-2010.