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You have a log utility function u (w) =ln (w), your current level of wealth is $5000
Suppose you’re exposed to risk will result to a 50/50 chance of winning or losing $1000.If you can buy insurance that completely removes the risk for a fee of $125 will you buy it or take a gamble.
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PART1: Assessing NormalityIn this module, you explore the normal distribution. A standard normal distribution has a mean of zero and a standard deviation of one. The z-score statistic converts a non-standard normal distribution into a standard normal distribution allowing us to use Table A-2 in your textbook (or whatever technology you want!) and report associated probabilities.This discussion combines means, sample standard deviation, z-score, and probability. You are encouraged to complete the textbook reading, review the narrated Ppts., and start the MyStatLab Homework before starting this discussion.ScenarioThe following table reports simulated annual flying squadron costs (in millions of dollars) at the following locations:Module 4 Airshow Template.xlsxCompleteUse Microsoft Excel and StatDisk to complete the Flying Squadron Costs table for the aircraft type listed below:If your last name begins with the letter A through L, compute the mean costs (x-bar) and sample standard deviation (s) using the B-52 data; use the Kadena mean cost (x) in your z-score and probability calculations.If your last name begins with the letter M through Z, compute the mean costs (x-bar) and sample standard deviation (s) using the F-35 data; use the Charleston mean cost (x) in your z-score and probability calculations.Report your values to two decimal places (i.e., 0.12) except for probability (four decimal places). Report probability, i.e., area, (to the right of your z-score) values to four decimal places (i.e. p = 0.1234).Your StatDisk results should look very similar to this image:Save your work as separate files to your computer and then read the Canvas instructions on How do I embed an image in a discussion reply as a student? (Links to an external site.)Links to an external site.Post & DiscussEmbed the images of your spreadsheet and StatDisk results in the discussion area along with a narrative (interpretation and understanding) of your findings and the responses to the questions below.Do these costs appear to come from a population that has a normal distribution? Why or why not?Can the mean of your data sample be treated as a value from a population having a normal distribution? Why or why not?Did an “unusually low” or “unusually high” z-score value occur? See Ppts.Was the associated z-score probability value less than 0.05 (p < 0.05); meaning a “significantly low” or “significantly high” event? If yes, what are the implications for the base and/or aircraft?What were your findings? Hint: focus on the calculated mean, standard deviation, and z-score (include probability) to interpret your results.You should make your initial post before the fourth day of the module week (Friday) to receive full credit. Return at least twice later in the module week to provide meaningful (substantive) comments to two or more of your classmates' posts. DO NOT “post and run” – making all three posts in the same visit. You need multiple visits to the discussion area to gain multiple perspectives by reading all of the posts and replies.Review the Discussion Rubric for detailed grading information.PART2Flying Squadron Costs ReportAssignmentReport the CostsNow that you have calculated simulated annual flying squadron costs, you are required to report your findings. Remember the focus for this module is the normal distribution; specifically mean, standard deviation, z-score, and probability; what these descriptive and inferential statistics physically mean and how they are used in a simulated “real-world” problem.You are encouraged to calculate all row and column values for mean, standard deviation, z-score, and probability so that the entire “data picture” is available. (Hint: Are there any unusual events? Either by aircraft or base?)Report the costs in a Memorandum of Understanding (MOU). Your MOU should be a maximum of one page with one-inch margins using 11 point font and consist of only the following three paragraphs:Introduction - Prepare the audience for what they are about to read.Results - The facts.Conclusion(s) - Results are fact-based, concise and to the point; actionable.Review the Writing Suggestions page for tips. Use this format for your document.MEMORANDUM OF UNDERSTANDINGTO: 97th AMW - USAFFROM: Your NameDATE: Add Assignment Due DateSUBJECT: Determined by StudentSubmitSave your assignment using a naming convention that includes your first and last name and the activity number or description (i.e., STAT_211_Last_Name_First_Name_Module_4). Do not add punctuation or special characters.This assignment will automatically be checked through Turnitin, a service that checks your work for improper citation or potential plagiarism by comparing it against a database of web pages, student papers, and articles from academic books and publications.Review the Assignment Rubric for detailed grading information.
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Most Popular Content
4 pages
Assignment 3 Inferential Statistics Analysis And Writeup Template.rtf 1
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Part A: Inferential Statistics Data Analysis Plan and Computation Introduction: I am a 35-year-old single parent with two children and college degree ...
Grantham University Complete Statistics Lab Worksheet
Please view the worksheet and complete it in FULLTHERE CAN BE NO PLAGIARISM MAKE SURE THAT ALL ANSWERS ARE CORRECT!
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UToronto RMarkdown Codes Statistics Assignment Help
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Memorandum of Understanding Discussion
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Memorandum of Understanding Discussion
PART1: Assessing NormalityIn this module, you explore the normal distribution. A standard normal distribution has a mean of zero and a standard deviation of one. The z-score statistic converts a non-standard normal distribution into a standard normal distribution allowing us to use Table A-2 in your textbook (or whatever technology you want!) and report associated probabilities.This discussion combines means, sample standard deviation, z-score, and probability. You are encouraged to complete the textbook reading, review the narrated Ppts., and start the MyStatLab Homework before starting this discussion.ScenarioThe following table reports simulated annual flying squadron costs (in millions of dollars) at the following locations:Module 4 Airshow Template.xlsxCompleteUse Microsoft Excel and StatDisk to complete the Flying Squadron Costs table for the aircraft type listed below:If your last name begins with the letter A through L, compute the mean costs (x-bar) and sample standard deviation (s) using the B-52 data; use the Kadena mean cost (x) in your z-score and probability calculations.If your last name begins with the letter M through Z, compute the mean costs (x-bar) and sample standard deviation (s) using the F-35 data; use the Charleston mean cost (x) in your z-score and probability calculations.Report your values to two decimal places (i.e., 0.12) except for probability (four decimal places). Report probability, i.e., area, (to the right of your z-score) values to four decimal places (i.e. p = 0.1234).Your StatDisk results should look very similar to this image:Save your work as separate files to your computer and then read the Canvas instructions on How do I embed an image in a discussion reply as a student? (Links to an external site.)Links to an external site.Post & DiscussEmbed the images of your spreadsheet and StatDisk results in the discussion area along with a narrative (interpretation and understanding) of your findings and the responses to the questions below.Do these costs appear to come from a population that has a normal distribution? Why or why not?Can the mean of your data sample be treated as a value from a population having a normal distribution? Why or why not?Did an “unusually low” or “unusually high” z-score value occur? See Ppts.Was the associated z-score probability value less than 0.05 (p < 0.05); meaning a “significantly low” or “significantly high” event? If yes, what are the implications for the base and/or aircraft?What were your findings? Hint: focus on the calculated mean, standard deviation, and z-score (include probability) to interpret your results.You should make your initial post before the fourth day of the module week (Friday) to receive full credit. Return at least twice later in the module week to provide meaningful (substantive) comments to two or more of your classmates' posts. DO NOT “post and run” – making all three posts in the same visit. You need multiple visits to the discussion area to gain multiple perspectives by reading all of the posts and replies.Review the Discussion Rubric for detailed grading information.PART2Flying Squadron Costs ReportAssignmentReport the CostsNow that you have calculated simulated annual flying squadron costs, you are required to report your findings. Remember the focus for this module is the normal distribution; specifically mean, standard deviation, z-score, and probability; what these descriptive and inferential statistics physically mean and how they are used in a simulated “real-world” problem.You are encouraged to calculate all row and column values for mean, standard deviation, z-score, and probability so that the entire “data picture” is available. (Hint: Are there any unusual events? Either by aircraft or base?)Report the costs in a Memorandum of Understanding (MOU). Your MOU should be a maximum of one page with one-inch margins using 11 point font and consist of only the following three paragraphs:Introduction - Prepare the audience for what they are about to read.Results - The facts.Conclusion(s) - Results are fact-based, concise and to the point; actionable.Review the Writing Suggestions page for tips. Use this format for your document.MEMORANDUM OF UNDERSTANDINGTO: 97th AMW - USAFFROM: Your NameDATE: Add Assignment Due DateSUBJECT: Determined by StudentSubmitSave your assignment using a naming convention that includes your first and last name and the activity number or description (i.e., STAT_211_Last_Name_First_Name_Module_4). Do not add punctuation or special characters.This assignment will automatically be checked through Turnitin, a service that checks your work for improper citation or potential plagiarism by comparing it against a database of web pages, student papers, and articles from academic books and publications.Review the Assignment Rubric for detailed grading information.
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