Discuss the below:
Q1. Statisticians use terms like trial, outcome and success in a particular way in reference to probability. What do each of these three terms mean in this context?
Q2. How is the term independent used by Statisticians?
Q3. On a game show, eight people have won the grand prize and a total of 266 people have completed. Estimate the probability of winning the grand prize.
Q4. Bob compares his SAT Verbal score of 400 to Marge's ACT Verbal score of 20. "I whupped ya," he exclaims. "My score is 20 times your score!" Although his multiplication is good, his logic is faulty. Explain why.