Use Simulation to Obtain Data Based on Probabilities
-(A) Simulate $\frac { 1 } { 4 }$

question 90

Essay

Use Simulation to Obtain Data Based on Probabilities
-(a) Simulate the experiment of sampling 100 four-child families to estimate the probability that a four-child family has three girls. Assume that the outcomes "have a girl" and "have a boy" are equally likely.
(b) Simulate the experiment of sampling 1000 four-child families to estimate the probability that a four-child family has three girls. Assume that the outcomes "have a girl" and "have a boy" are equally likely.
The classical probability that a four-child family has three girls is $\frac { 1 } { 4 }$ . Compare the results of (a) and (b) to the probability that would be obtained using the classical method. Which answer was closer to the probability that would be obtained using the classical method Is this what you would expect

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Definitions:

Market Recognition

The degree to which a company or product is known and acknowledged by potential customers and the wider market.

Breakeven Point

The moment when total costs and total revenues are exactly equal, meaning that a business or project is neither making a profit nor experiencing a loss.

Variable Costs

Costs that change in proportion to the level of goods or services produced.

Fixed Costs

Expenses that do not change with the volume of production or sales, such as rent, salaries, and insurance premiums.