Question 2Which of the following are discrete random variables?A The spin of a roulette wheelB The amount of time until you next coughC) A coin tossD) The height of the next person to enter the roomE The amount of rainfall in millimetres in Capel Curig during the next 24 hours

One who only considers quantifiable (discrete) values has a discrete random variable. It accepts the…

Which of the following are discrete random variables? (A) The spin of a roulette wheel B D E The amount of time until you next cough A coin toss The height of the next person to enter the room The amount of rainfall in millimetres in Capel Curig during the next 24 hours

Which of the following are discrete random variables? (A) The spin of a roulette wheel B D E The amount of time until you next cough A coin toss The height of the next person to enter the room The amount of rainfall in millimetres in Capel Curig during the next 24 hours

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.16P

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Hypothesis Testing

In statistics, there are two ways to calculate the sample data. One is descriptive statistics and the other is inferential statistics. In descriptive statistics, all of the information is defined through graphs and charts. In inferential statistics, it allows one to test the hypothesis and it is always used to predict the data. Inferential statistics has two main areas: estimating parameters and hypothesis testing. A hypothesis is a statement about the unknown parameter of the population which we want to verify from the information available from the sample. The premise may or may not be true. The estimation of the whole population would be a reasonable way of deciding if the statistical hypothesis is valid. There are two types of hypotheses. They are null hypothesis and alternative hypothesis.

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