Question 1: Mean Temperature of Boston over the last 20 years.
The days with temperatures >=90 degree consecutively are Day5, Day6 and Day 7 Fahrenheit. For the 20 days represented in the data, this is the only heatwave.
Where P is the total number of probabilities.
Question 3: Customer Survey
The probability of sales made online
The probability of sales made physically
If 4 sales are made online, 6 will be made physically. Therefore, there is no chance of making 12 sales on a given day = 0. The only possibility is that 10 sales can be made on the same day.
Under this condition, the number of sales made can be 1, 2, 3, 4, or 5 (whole numbers between 0 and 6). Thus, P(1/0.4, 2/0.4, 3/0.4, 4/0.4, 5/0.4) = (2.5, 5, 7.5, 10, 12.5). Thus, the only case that satisfies the condition is 5, which means that P(of 12 sales fewer than 6 are made online) is 0.2 or 1/5.
Applying a similar argument as in (e) above, P(8/0.4,9/0.4,..) = (20,22.5,..), which means 8, 9, 10, 12, ….. Thus, the probability of more than 8 are made online is 1.
Uber, a globally traded transport firm, is one of the businesses, which recently experienced challenges and scandals. Less than three years ago, the organization’s information system was hacked –enabling hackers to access critical data related to clients. In Uber’s case, probability and distribution analysis could help to estimate the probability of breach for their database applications. The company could use the approximations to determine vulnerable apps and assign risk ratings based on observable application features.
Suppose I were Uber’s business analyst, I would employ probability statistics to evaluate the firm’s performance based on its growth history and prospects, client perception, market position, and likely sales. Therefore, I would collect data related to all these variables and compare with competitors’. The case would be a binomial distribution since the assessment would involve particular historical and future events as well as their impacts and the likelihood of occurrence. The questions I would ask include
First, it is essential for the management to note the significance of emphasizing on client-related data in winning customers’ confidence. The transport market is highly competitive with competitors such as Taxify exploiting every single opportunity outdo their rivals. Therefore, organizations that guarantee safety to customers are more likely to win the game. In that regard, one of the most critical steps for the company to make its information system safe is to assess the probability of security risks occurring and this is where investing in probability analysis is vital. On the other hand, the evaluation would help the business to understand how various factors affect profitability.