Respond to the following discussion prompt in a minimum of 175 - 500 words:Many business activities generate data that can be thought of as random. An example described in the textbook is the servicing of cars at an oil change shop. Each car entering the shop can be considered an experiment with random outcomes. A variable of interest in this experiment could be the amount of time necessary to service the car. Service time will vary randomly with each car.We can often capture the most relevant characteristics of a stochastic process with a simple probability distribution model. We can then analyze the model to make predictions and drive decisions. For instance, we could estimate the number of technicians the oil change shop needs to service demand on a Saturday afternoon. Discuss the following:What is a random variable?How would you differentiate a discrete from a continuous random variable?A laptop manufacturing company has implemented a 2-step process to test the quality of each production batch. In the first step, a technician randomly selects 15 laptops from the batch and determines whether they meet specifications. The batch is considered acceptable provided no more than 1 laptop fails to meet specifications. Otherwise, the entire batch must be tested in the second step. Historical data shows that 95% of the laptops produced adhere to specifications. Discuss the following:What are the 4 characteristics of a binomial experiment?Can we use a binomial distribution to model this process?What is the probability that the entire batch unnecessarily has to be tested if in fact 95% of its laptops conform to specifications? (Hint: Use Excel’s =BINOMDIST() function to find the probability.)What is the probability that the batch is incorrectly accepted if only 75% of its laptops conform to specifications?

For Major Assignment 3 in Topic 6, you will develop a project to provide humanitarian assistance to people in your local community. For this DQ, you will look ahead at the project instructions and take some time to think ahead about what you will need to do for this assignment.Start by reviewing the instructions for the assignment and the Excel template in the assignment location in Topic 6. Then, respond to the following questions for this DQ:List at least 3 people or contact numbers that you might be able to reach out to help identify needs in your community. This can be representatives from local churches, charities, governmental, or non-governmental organizations. If you’d like, go ahead and make some calls; this will help you work ahead on the assignment.List at least 2 groups of people you could assist. Ideally, you will be able to identify a very specific set of people that you will be able to help. For example, instead of saying that you will work with homeless people, you could see whether there’s a specific homeless shelter that might have some residents who would benefit from services that you could provide.List at least one way in which you could structure an independent project to assist people. Here, you will want to think about what it would take to manage an aid program yourself, rather than volunteering with an existing program. For example, instead of saying that you will collect food and deliver it to an existing food bank, you would want to ask yourself what it would take to identify people who might need food and deliver the food to them directly if you are concerned about the confidentiality of your information, feel free to send me your DQ response through the Private Forum rather than posting it in the DQ Forum. In this case, I’ll also provide feedback in the Private Forum.For this DQ, you’ll be looking ahead at Major Assignment 3 in Topic 6. This will give you a chance to get a head start on the assignment; the more of it you can complete now, the less you’ll need to complete later. It is a large assignment and you should plan ahead!For Major Assignment 3 in Topic 6, you will develop a project to provide humanitarian assistance to people in your local community. For this DQ, you will look ahead at the project instructions and take some time to think ahead about what you will need to do for this assignment.At a minimum, for this DQ, you’ll need to review the assignment instructions (“MA3 Instructions 20200907.docx”) and Excel template (“MA3 Excel Template 20200907.xlsx”) in the assignment location—all files are attachments to the “Benchmark – Major Assignment 3” task under Topic 6: Statistics in the course Path. The third attachment there is a Word template (“MA3 Write-Up Template 20200907.docx”) that you will be able to use as a starting point for your Major Assignment 3 Write-Up, and you’re welcome to review that file as well. All files are attached below.If you’d like to get a head start on MA3, feel free to start working on the assignment this week: although you’ll need additional concepts through Topic 6 to complete the Excel, you can complete some of the Excel, and the Word document does not require additional concepts. For more assistance with the Excel, I’m attaching the PowerPoint resource “Major Assignment 3 Explanation.pptx” to this post, in case you’d like to get a head start on that.Once you have looked at the files, respond to the following questions to complete this DQ; note that you can either reply directly in a post, or attach a Word document to your post. Either way, save your work for MA3.Please pay attention to the requirements for each item here:List at least 3 people and contact numbers that you might be able to reach out to help identify needs in your community. This can be representatives from local churches, charities, governmental, or non-governmental organizations. Note: for the major assignment, you’ll need to get in touch with at least one source and reference your conversation with that person or group. So, you may also want to go ahead and already do that now. The information you provide should be detailed enough so that someone could contact an actual person based on your information.List at least 2 groups of people that you could assist. As indicated in the DQ statement, this must be a specific group of people in the area where you live, such as people at a nearby homeless shelter (in which case you will identify the shelter by name and location) or people served by a local food bank (in which case you will identify the food bank’s name and location). Here again, the information you provide should include enough detail so that someone reading your description could find out more by contacting the group or organization that you would be working with as a starting point.Finally, list at least one way in which you could structure an independent project to assist people. Here, you will want to think about what it would take to manage an aid program yourself, rather than volunteering with an existing program. For example, instead of saying that you will collect food and deliver it to an existing food bank, you would want to ask yourself what it would take to identify people who might need food and deliver the food to them directly. Here, you should include enough detail so that a reasonable person reading your description would not need to ask any follow-up questions to understand your proposal.

I want a presentation with one of the chapters in the book that it containsI need to summarize this chapterTerms: 1- Introduction of the summary2- paraphrasing using your own words3- Summary should be 11 pages at least 4- I need 3-4 exercises to be included in the summary - Solved ones are ok to use-