Response the following:
Q1. Define probability and explain its three perspectives. Provide an example of each.
Q2. Explain the concept of mutually exclusive events. How do you compute the probability P(A or B) when A and B are, and are not, mutually exclusive.
Q3. What is the standard error of the mean? How does it relate to the standard deviation of the population from which a sample is taken?
Q4. Describe the difference between subjective and probabilistic sampling methods. What are the advantages and disadvantages and disadvantages of each?
Q5. How does the t-distribution differ from the standard normal distribution?
Q6. Discuss how confidence intervals can help in making decisions. Provide some examples.