Respond to each of the following answering the question completely, with in text citations and at least one reference for each question.

1.Define probability and explain its three perspectives. Provide an example of each
2.How is the standard normal distribution used to compute normal probabilities?
3.Explain the importance of sampling from a managerial perspective.
4.Explain the central limit theorem. Why is it important in statistical analysis?
5.Explain how a confidence interval changes with changes in the level of confidence and sample size.