1. A random sample of companies in electric utilities (I), financial services (II), food processing (III) gave the following information regarding annual profit employee (units in thousands of dollars). Jngsib 9otsM I II III 49.7 55.3 39.4 43.7 24.7 37.4 32.4 41.8 10.8 27.4 29.2 32.1 38.7 39.5 15.7 36.7 42.8 20.4 Shall we reject or not reject the claim that there is no difference in popúlation annual profits per employee in each of the three types of companies? Use a 1% v of significance. Savizege t least. two means are not equal CNot %3D %3D OVA table c) coubite vaxjuciesa DF SS ms P-Value 2 210 47 105.24 0.775or 0.78 0.4785 The, 15 2037.97 135.86 17 thana
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
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