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New York University Week 9 Expected Monetary Value Discussion
Calculate the EMV for the following scenario. Imagine that you are asked to play the following game with 5 of your friends ...
New York University Week 9 Expected Monetary Value Discussion
Calculate the EMV for the following scenario. Imagine that you are asked to play the following game with 5 of your friends*. Everyone is given a number from 1 to 6, and each person puts in $10. The die is rolled and the lucky person that matches the number that comes up on the dice, gets to keep all the money ($60). Formula: EMV = P(O1)*M(O1) + P(O2)*M(O2)+ . . . + P(On)*M(On)•What is the Expected Monetary Value (EMV) calculation for this game?•Is it a good idea to participate in this game? •Under what circumstances would it, or would it not be, a good idea to participate? * Other than the obvious relationship to running a casino, the scenario is also similar to marketing contexts in terms of calculating the expected monetary value associated with customer relationship management, loyalty programs, etc; that have their associated outcomes and probabilities of outcomes. Attached is the related weekly slides for this HW. Please review it before start.
answer two question below
1- Post your thoughts about Case 1.1 Entertainment on a Cruise Ship that you were asked to read this week. Comment on the ...
answer two question below
1- Post your thoughts about Case 1.1 Entertainment on a Cruise Ship that you were asked to read this week. Comment on the open-ended questions associated with the case 2- Post your thoughts about this video lecture: The Best Stats You Have Ever Seen. To what extent do you think that the visual presentation of data (which is a strength of statistics) provides useful information for policy makers? Which part of the presentation did you find most personally informative and revealing?Please, each answer on a separate page.
Central Tendency and Variability
Central Tendency and Variability Understanding descriptive statistics and their variability is a fundamental aspect of ...
Central Tendency and Variability
Central Tendency and Variability Understanding descriptive statistics and their variability is a fundamental aspect of statistical analysis. On their own, descriptive statistics tell us how frequently an observation occurs, what is considered “average”, and how far data in our sample deviate from being “average.” With descriptive statistics, we are able to provide a summary of characteristics from both large and small datasets. In addition to the valuable information they provide on their own, measures of central tendency and variability become important components in many of the statistical tests that we will cover. Therefore, we can think about central tendency and variability as the cornerstone to the quantitative structure we are building. For this Discussion, you will examine central tendency and variability based on two separate variables. You will also explore the implications for positive social change based on the results of the data. Post, present, and report a descriptive analysis for your variables, specifically noting the following: For your continuous variable: From the General Social Survey dataset Report the mean, median, and mode.What might be the better measure for central tendency? (i.e., mean, median, or mode) and why?Report the standard deviation.How variable are the data?How would you describe this data?What sort of research question would this variable help answer that might inform social change? Post the following information for your categorical variable: A frequency distribution.An appropriate measure of variation.How variable are the data?How would you describe this data?What sort of research question would this variable help answer that might inform social change?
4 pages
Correlation And Bivariate Regression
The article by Ahmad et al. (2018) details a quantitative study on the correlation between class absenteeism and academic ...
Correlation And Bivariate Regression
The article by Ahmad et al. (2018) details a quantitative study on the correlation between class absenteeism and academic performance. In the study, ...
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Most Popular Content
New York University Week 9 Expected Monetary Value Discussion
Calculate the EMV for the following scenario. Imagine that you are asked to play the following game with 5 of your friends ...
New York University Week 9 Expected Monetary Value Discussion
Calculate the EMV for the following scenario. Imagine that you are asked to play the following game with 5 of your friends*. Everyone is given a number from 1 to 6, and each person puts in $10. The die is rolled and the lucky person that matches the number that comes up on the dice, gets to keep all the money ($60). Formula: EMV = P(O1)*M(O1) + P(O2)*M(O2)+ . . . + P(On)*M(On)•What is the Expected Monetary Value (EMV) calculation for this game?•Is it a good idea to participate in this game? •Under what circumstances would it, or would it not be, a good idea to participate? * Other than the obvious relationship to running a casino, the scenario is also similar to marketing contexts in terms of calculating the expected monetary value associated with customer relationship management, loyalty programs, etc; that have their associated outcomes and probabilities of outcomes. Attached is the related weekly slides for this HW. Please review it before start.
answer two question below
1- Post your thoughts about Case 1.1 Entertainment on a Cruise Ship that you were asked to read this week. Comment on the ...
answer two question below
1- Post your thoughts about Case 1.1 Entertainment on a Cruise Ship that you were asked to read this week. Comment on the open-ended questions associated with the case 2- Post your thoughts about this video lecture: The Best Stats You Have Ever Seen. To what extent do you think that the visual presentation of data (which is a strength of statistics) provides useful information for policy makers? Which part of the presentation did you find most personally informative and revealing?Please, each answer on a separate page.
Central Tendency and Variability
Central Tendency and Variability Understanding descriptive statistics and their variability is a fundamental aspect of ...
Central Tendency and Variability
Central Tendency and Variability Understanding descriptive statistics and their variability is a fundamental aspect of statistical analysis. On their own, descriptive statistics tell us how frequently an observation occurs, what is considered “average”, and how far data in our sample deviate from being “average.” With descriptive statistics, we are able to provide a summary of characteristics from both large and small datasets. In addition to the valuable information they provide on their own, measures of central tendency and variability become important components in many of the statistical tests that we will cover. Therefore, we can think about central tendency and variability as the cornerstone to the quantitative structure we are building. For this Discussion, you will examine central tendency and variability based on two separate variables. You will also explore the implications for positive social change based on the results of the data. Post, present, and report a descriptive analysis for your variables, specifically noting the following: For your continuous variable: From the General Social Survey dataset Report the mean, median, and mode.What might be the better measure for central tendency? (i.e., mean, median, or mode) and why?Report the standard deviation.How variable are the data?How would you describe this data?What sort of research question would this variable help answer that might inform social change? Post the following information for your categorical variable: A frequency distribution.An appropriate measure of variation.How variable are the data?How would you describe this data?What sort of research question would this variable help answer that might inform social change?
4 pages
Correlation And Bivariate Regression
The article by Ahmad et al. (2018) details a quantitative study on the correlation between class absenteeism and academic ...
Correlation And Bivariate Regression
The article by Ahmad et al. (2018) details a quantitative study on the correlation between class absenteeism and academic performance. In the study, ...
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