answer some analytics question

1.1. The purpose of calculating probabilities is to figure out the likelihood of a specific event happening.

Using your imagination:

a) Provide a practical example of probability calculation in which the events are mutually exclusive. Use numbers to support your example.

b) Provide a practical example of probability calculation in which the events are not mutually exclusive. Use numbers to support your example.

1.2. Confidence intervals allows you to estimate the true value of the population mean. Basically, instead of being a single number, the mean is described with an upper and a lower values.

a) Provide a meaningful example of how you would apply confidence intervals for your company’s projects. Use numbers to support your example.

1.3 Define what is a Simpson’s paradox and provide one practical example.