Finite Mathematics for Business, Economics, Life Sciences and Social Sciences

14th Edition

ISBN: 9780134677972

Author: Barnett

Publisher: PEARSON

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Addition Rule of Probability

It simply refers to the likelihood of an event taking place whenever the occurrence of an event is uncertain. The probability of a single event can be calculated by dividing the number of successful trials of that event by the total number of trials.

Expected Value

When a large number of trials are performed for any random variable ‘X’, the predicted result is most likely the mean of all the outcomes for the random variable and it is known as expected value also known as expectation. The expected value, also known …

Probability Distributions

Understanding probability is necessary to know the probability distributions. In statistics, probability is how the uncertainty of an event is measured. This event can be anything. The most common examples include tossing a coin, rolling a die, or choosi…

Basic Probability

The simple definition of probability it is a chance of the occurrence of an event. It is defined in numerical form and the probability value is between 0 to 1. The probability value 0 indicates that there is no chance of that event occurring and the prob…

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Textbook Question

Chapter 9.3, Problem 4MP

Repeat Example 4 for the standard form P found in Matched Problem 3.

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Chapter 9.3, Problem 3MP

Chapter 9.3, Problem 5MP

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Module Code: MATH380202 3. (a) Let {} be a white noise process with variance σ2. Define an ARMA(p,q) process {X} in terms of {+} and state (without proof) conditions for {X} to be (i) weakly stationary and (ii) invertible. Define what is meant by an ARIMA (p, d, q) process. Let {Y} be such an ARIMA(p, d, q) process and show how it can also be represented as an ARMA process, giving the AR and MA orders of this representation. (b) The following tables show the first nine sample autocorrelations and partial auto- correlations of X and Y₁ = VX+ for a series of n = 1095 observations. (Notice that the notation in this part has no relationship with the notation in part (a) of this question.) Identify a model for this time series and obtain preliminary estimates for the pa- rameters of your model. X₁ = 15.51, s² = 317.43. k 1 2 3 4 5 6 7 Pk 0.981 0.974 0.968 akk 0.981 0.327 8 9 0.927 0.963 0.957 0.951 0.943 0.935 0.121 0.104 0.000 0.014 -0.067 -0.068 -0.012 Y₁ = VX : y = 0.03, s² = 11.48. k 1…

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Module Code: MATH380202 1. (a) Define the terms "strongly stationary" and "weakly stationary". Let {X} be a stochastic process defined for all t € Z. Assuming that {X+} is weakly stationary, define the autocorrelation function (acf) Pk, for lag k. What conditions must a process {X+) satisfy for it to be white noise? (b) Let N(0, 1) for t€ Z, with the {+} being mutually independent. Which of the following processes {X+} are weakly stationary for t> 0? Briefly justify your answers. i. Xt for all > 0. ii. Xo~N(0,) and X₁ = 2X+-1+ &t for t > 0. (c) Provide an expression for estimating the autocovariance function for a sample X1,..., X believed to be from a weakly stationary process. How is the autocor- relation function Pk then estimated, and a correlogram (or acf plot) constructed? (d) Consider the weakly stationary stochastic process ✗+ = + + +-1+ +-2 where {E} is a white noise process with variance 1. Compute the population autocorre- lation function Pk for all k = 0, 1, ....

Chapter 9 Solutions

Finite Mathematics for Business, Economics, Life Sciences and Social Sciences

Ch. 9.1 - (A) Refer to the transition diagram in Figure 1....Ch. 9.1 - Refer to Example 4. States D and G are referred to...Ch. 9.1 - An insurance company classifies drivers as...Ch. 9.1 - Find P4 and use it to find S4 for AAP=AA.8.2.3.7...Ch. 9.1 - Use P8 and a graphing calculator to find S8 for P...Ch. 9.1 - Refer to Example 4. At the end of each year the...Ch. 9.1 - In Problems 1-8, find the matrix product, if it is...Ch. 9.1 - In Problems 1-8, find the matrix product, if it is...Ch. 9.1 - In Problems 1-8, find the matrix product, if it is...Ch. 9.1 - In Problems 1-8, find the matrix product, if it is...

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