by jabuec4367 on Sat Oct 24, 2009 2:32 am
I am a newbie to statistics and am in my 2nd week BUS308 Statistics class (online). I would like to assume I know the anwer to this problem by directing you to hypergeometric probability example to solve this problem. I used a simulator to arrive at 17% chance the 23rd step would be to the right and 82% chance the 23rd step would be to the left. Although it was uncalled for, I set up a sample space using only 7 steps (1 in 3 for Right, 1 in 4 for Left) and calculated the standard deviation as 0.170239 which is strangely enough the probability that the hypergeometric probability simulator arrived at for the outcome.