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| DR. JOHN RASP'S STATISTICS WEBSITE |
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STAT 301 - Business Statistics Remember that a lecture review assignment is made following each class, and is due at the beginning of the following class. These assignments may be typed or neatly handwritten. You should SHOW YOUR WORK on computational problems. Review questions: 1) Who was the Chevalier de Mere, and what was his role in the history of probability? 2) "One ... step ... at ... a ... time," says Dr. Rasp. Why? 3) What is the "typing monkey" problem? Internet search: One famous work of world literature that plays off the "typing monkey" problem is the short story "The Library of Babel," by noted Argentine author Jorge Luis Borges. Do a quick internet search on this noted literary work. (Wikipedia is sufficient … but tell no one that I referred you to Wikipedia.) Summarize what you found in a paragraph or two. Computational exercises: 1) Five standard six-sided dice are rolled. What is the probability of getting the same number on all five dice? The probability of getting all different numbers on the five dice? 2) All stocks traded in U.S. stock markets are identified by a "ticker symbol" — an abbreviation of one to four letters. For example, Ford is "F," DuPont is "DD," Microsoft is "MSFT," and Harley-Davidson is "HOG." How many different stock ticker symbols are possible? 3) Dr. Rasp selects four students at random from the students in STAT 301. What is the probability that at least two of the students were born on the same day of the week? [HINT: it’s easier to begin with the probability that they all four were born on different days. Why?] 4) In baseball, a ".300 hitter" gets a hit 30% of the time. (For those of you not well-versed in spiritual things like baseball: hitting .300 is pretty good.) Suppose a player has five times at bat in a game. a) What is the probability of getting at least one hit in a game? b) What is the probability of getting at least one hit, in ten consecutive games?
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