Please follow this announcement for your homework 1:
1. The students will search information and examples about probability on the recommended textbooks and/or on the Internet, or any other bibliographic textbooks.
2. Students will find the definition of probabilities. Include examples of the different types of probabilities including basic, marginal and conditional probability.
3. Create a concept map about probabilities.
4. The students will define and provide examples about the probability distributions (Binomial, Poisson and Normal). They will also prepare a list with the most common applications and examples solved in the area of business administration for each one of them.
This must be an individual work; copies from the internet or from the URLs used
will not be accepted (see Appendix A: Academic Honesty Policy).
5. Answer the following questions:
a. What is the difference between a simple event and a complex event?
b. What is the relationship between conditional probability and the concept of statistical independence?
c. What is the meaning of expected value in a probability distribution?
Please dont forget to add references to your research.