Online Statistics
Part 1
Probability theory is an aspect that is applicable on an everyday basis. A particular situation in which I may use probability theory to reach a decision in public management is to investigate equal employment prospects within the organization. For instance, there is a need to assess whether the organization hires women in the same manner as men, especially in positions that do not necessitate certain gender traits. Therefore, in this case, probability theory can be beneficial in probability theory, specifically Bernoulli process. That is, a process can either generate two possible outcomes, which are male or female. Probability plays a pivotal part in this regard because the probability of a certain results is the proportion of times that outcome would take place in a long and extensive run of repeated observations. In this instance if men and women are equally represented in the labor force, then the probability of selecting a woman by chance (p) presumably equals .5, as does the probability of drawing a man (q). Therefore, in this regard, it becomes possible to make a sensible judgment regarding the hiring practices of the organization. It is imperative to note that guessing in this particular instance of decision making would not be correct or right because it would be misleading and give a wrong judgment regarding the hiring process of the organization (McNabb, 2015).
Part 2
There is a great deal of materials covered in the Online Statistics Education: A Multimedia Course of Study. The content begins by defining statistics and delineating its significance. It shows that statistics is imperative as it is included to incorporate credibility to an argument or recommendation. In addition, statistics provides tools that one requires so as to react logically to information one hears or reads. Furthermore, the content shows that statistics can be classified into descriptive statistics and inferential statistics. On the one hand, descriptive statistics encompass numbers that are employed...
Probability provides a measurable and quantifiable indication of how likely a particular outcome is for an event or experiment. It is expressed as a numeric value between zero and one (inclusive), where an impossible event has a probability of zero and a certain event has a probability of one. Probability is conventionally written using the symbol P, and may be expressed as a percentage by multiplying P. By 100. The problem
There are also ethical issues pertaining to the observational method that will be discussed later in this paper. Experience surveys are widely used throughout qualitative research studies, due to their focus on bringing greater insights into the study through the interviewing of experts in chosen fields. There is also a strong focus on how to gain insights of experts in the future definition of the methodology being created, and how
(in its turn, the financial environment must be understood with reference to the wider economic situation.) Cost control is the activity which compares cost performance against the cost plan, adjusting one or the other dynamically by reference to the changing circumstances in the project's financial environment. (Hughes, 1991, p.1) 2. Time Control -. Timing is influenced by many environmental factors, but the client's attitude to the timing of the project
Game theory is a critical form of decision making that is used in various subjects like economy and political science. Its relevance is becoming prominent in the success rates that have come out in gambling and sports betting. The theory is basically an amalgamation of different models of cooperation and conflict between various decision makers (Myerson, 1991) Thus, it can be safely stated that the theory itself is not just
" (Muntenu, 2004) According to Muntenu (2004) "It is almost impossible for a security analyst with only technical background to quantify security risk for intangible assets. He can perform a quantitative or qualitative evaluation using dedicated software to improve the security of the information systems, but not a complete risk assessment for the whole information system. Qualitative assessment based on questionnaires use in fact statistical quantitative methods to obtain results. Statistical
victimization theories of crime. Victimization theories of crime focus on victim characteristics and behavior patterns, rather than focus exclusively on the perpetrators of crime. These theories help present a broader picture of crime rates and patterns within any given community. Victimization theories also help to identify vulnerable groups, and can therefore be helpful when creating public policy or law enforcement strategies. Some victimization theories include victim participation theory, victim lifestyle
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