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#blockchain

A decentralised database with minimal trust between nodes would al- low for the creation of a global ledger. Such a ledger would have many useful applications in finance, trade, supply chain tracking and more. We present Corda, a decentralised global database, and describe in detail how it achieves the goal of providing a platform for decentralised app develop- ment. We elaborate on the high level description provided in the paper Corda: An introduction 1 and provide a detailed technical discussion

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Question

A continuity correction factor is used when **[...]** ; when you use a **[...]** distribution table to approximate a **[...]** , you’re going to have to use a continuity correction factor.

P (X = n) | X is exactly n | P (n – .5 < X < n + .5) |

P (X > n) | X is greater than n | P(X > n + .5) |

P (X ≥ n) | X is greater than or equal to n | [...] |

P (X ≤ n) | X is less than or equal to n | [...] |

P (X < n) | X is less than n | P(X < n – .5) |

Answer

1. you use a continuous function to approximate a discrete one

2. normal

3. binomial

4. P(X > n – .5)

5. P(X < n + .5)

2. normal

3. binomial

4. P(X > n – .5)

5. P(X < n + .5)

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Tags

#has-images

Question

Sixty two percent of 12 th graders attend school in a particular urban school district. If a sample of 500 12 th grade children is selected from the district, find the probability that at least 290 are actually enrolled in that school.

Answer

1.Determine if you can use the normal distribution: n × p = 500 × .62 = 310 n × q = 500 × .38 = 190 These are both larger than 5, so we can use the normal approximation.

2.Find the mean, μ = n × p = 310

3.then µ x q: 310 × .38 = 117.8

4. σ = √(µ x q) = √117.8 = 10.85

5. P (X ≥ 290) using Continuity Correction Factor” = P (X > 289.5)

6. Z-value = (n-μ)/σ = (289.5 – 310) / 10.85 = -1.89

7. The area for -1.819 is .4706 in the z-table

8. Add .5 or substract from .5 depending on which area you are looking for (see image below) => P= .9706, or 97.06%.

2.Find the mean, μ = n × p = 310

3.then µ x q: 310 × .38 = 117.8

4. σ = √(µ x q) = √117.8 = 10.85

5. P (X ≥ 290) using Continuity Correction Factor” = P (X > 289.5)

6. Z-value = (n-μ)/σ = (289.5 – 310) / 10.85 = -1.89

7. The area for -1.819 is .4706 in the z-table

8. Add .5 or substract from .5 depending on which area you are looking for (see image below) => P= .9706, or 97.06%.

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In many industries significant effort is needed to keep organisation specific databases in sync with each other. In the financial sector the effort of keeping different databases synchronised, reconciling them to ensure they actually are synchronised and resolving the ‘breaks’ that occur when they are not represents a significant fraction of the total work a bank actually does! Why not just use a shared relational database? This would certainly solve a lot of problems using only existing technology, but it would also raise more questions than answers:

• Who would run this database? Where would we find a sufficient supply of angels to own it?

• In which countries would it be hosted? What would stop that country abusing the mountain of sensitive information it would have?

• What if it were hacked?

• Can you actually scale a relational database to fit the entire financial system?

• What happens if The Financial System™ needs to go down for mainte- nance? • What kind of nightmarish IT bureaucracy would guard changes to the database schemas?

• How would you manage access control

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• New transaction types can be defined using JVM 4 bytecode.

• Transactions may execute in parallel, on different nodes, without either node being aware of the other’s transactions

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• There is no block chain 3 . Transaction races are deconflicted using plug- gable notaries. A single Corda network may contain multiple notaries that provide their guarantees using a variety of different algorithms. Thus Corda is not tied to any particular consensus algorithm. (§7)

• Data is shared on a need-to-know basis. Nodes provide the dependency graph of a transaction they are sending to another node on demand, but there is no global broadcast of all transactions.

• Bytecode-to-bytecode transpilation is used to allow complex, multi-step transaction building protocols called flows to be modelled as blocking code. The code is transformed into an asynchronous state machine, with checkpoints written to the node’s backing database when messages are sent and received. A node may potentially have millions of flows active at once and they may last days, across node restarts and even upgrades. Flows expose progress information to node administrators and users and may interact with people as well as other nodes. A Flow library is provided to enable developers to re-use common Flow types such as notarisation, membership broadcast and so on.

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• Nodes are backed by a relational database and data placed in the ledger can be queried using SQL as well as joined with private tables, thanks to slots in the state definitions that are reserved for join keys.

• The platform provides a rich type system for the representation of things like dates, currencies, legal entities and financial entities such as cash, issuance, deals and so on.

• States can declare a relational mapping and can be queried using SQL.

• Integration with existing systems is considered from the start. The net- work can support rapid bulk data imports from other database systems without placing load on the network. Events on the ledger are exposed via an embedded JMS compatible message broker.

• States can declare scheduled events. For example a bond state may declare an automatic transition to an “in default” state if it is not repaid in time.

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Question

A Central Limit Theorem word problem needs to assume **[...]** . You also need to know: **[...]** , **[...]** , **[...]** and **[...]** .

Answer

1. the variable is normally distributed

2. the population

3. the average

4. the standard deviation

5. the sample size

2. the population

3. the average

4. the standard deviation

5. the sample size

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3.1 Network overview

A

Corda network consists of the following components:

• Nodes, communicating using AMQP/1.0 over TLS. Nodes use a relational database for data storage.

• A permissioning service that automates the process of provisioning TLS certificates.

• A network map service that publishes information about nodes on the network.

• One or more notary services. A notary may itself be distributed over multiple nodes.

• Zero or more oracle services. An oracle is a well known service that signs transactions if they state a fact and that fact is considered to be true.

They may also optionally also provide the facts. This is how the ledger can be connected to the real world, despite being fully deterministic. A purely in-memory implementation of the messaging subsystem is provided which can inject simulated latency between nodes and visualise communica- tions between them. This can be useful for debugging, testing and educational purposes. Oracles and notaries are covered in later sections.

3.2 Identity and the permissioning service

Unlike Bitcoin and Ethereum, Corda is designed for semi-private networks in which admission requires obtaining an identity signed by a root authority. This assumption is pervasive – the flow API provides messaging in terms of identities, with routing and delivery to underlying nodes being handled automatically. There is no global broadcast at any point. This ‘identity’ does not have to be a legal or true identity. In the same way that an email address is a globally unique pseudonym that is ultimately rooted by the top of the DNS hierarchy, so too can a Corda network work with arbitrary self-selected usernames. The permissioning service can implement any policy it likes as long as the identities it signs are globally unique. Thus an entirely anonymous Corda network is possible if a suitable IP obfuscation system like Tor 6 is also used.

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Question

What is Corda?

Answer

A decentralised database with minimal trust between nodes would al- low for the creation of a global ledger

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A decentralised database with minimal trust between nodes would al- low for the creation of a global ledger. Such a ledger would have many useful applications in finance, trade, supply chain tracking and more. We present Corda, a decentralised global database, and describe in detail how it ac

Question

We present Corda, [...], and describe in detail how it achieves the goal of providing a platform for decentralised app develop- ment.

Answer

a decentralised global database

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mal trust between nodes would al- low for the creation of a global ledger. Such a ledger would have many useful applications in finance, trade, supply chain tracking and more. We present Corda, <span>a decentralised global database, and describe in detail how it achieves the goal of providing a platform for decentralised app develop- ment. We elaborate on the high level description provided in the paper Corda: An

Tags

#has-images

Question

How do you find a probability that a variable is greater than a certain value, less than a certain value, or between two values using the central limit theorem?

Answer

1. Use the formula in image to find Z-value

2. Find areas under the curve for the different Z-values of interest.

3. Add or subtract areas as needed

2. Find areas under the curve for the different Z-values of interest.

3. Add or subtract areas as needed

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Question

Corda is a platform for the writing of “CorDapps”: [...]. Such apps define new data types, new inter-node protocol flows and the “smart contracts” that determine allowed changes.

Answer

applications that extend the global database with new capabilities

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Corda is a platform for the writing of “CorDapps”: applications that extend the global database with new capabilities. Such apps define new data types, new inter-node protocol flows and the “smart contracts” that determine allowed changes.

Question

Corda is a platform for the writing of “CorDapps”: applications that extend the global database with new capabilities. Such apps define new [...] and the “smart contracts” that determine allowed changes.

Answer

data types, new inter-node protocol flows

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Corda is a platform for the writing of “CorDapps”: applications that extend the global database with new capabilities. Such apps define new data types, new inter-node protocol flows and the “smart contracts” that determine allowed changes.

Question

Corda is a platform for the writing of “CorDapps”: applications that extend the global database with new capabilities. Such apps define new data types, new inter-node protocol flows and the [...] that determine allowed changes.

Answer

“smart contracts”

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an> Corda is a platform for the writing of “CorDapps”: applications that extend the global database with new capabilities. Such apps define new data types, new inter-node protocol flows and the <span>“smart contracts” that determine allowed changes. <span>

Question

In contrast to both Bitcoin and Ethereum, Corda does not [...]. Instead each state points to a notary, which is a service that guarantees it will sign a transaction only if all the input states are un-consumed. A transaction is not allowed to consume states controlled by multiple notaries and thus there is never any need for two-phase commit between notaries. If a combination of states would cross notaries then a special transaction type is used to move them onto a single notary first. See §7 for more information.

Answer

order transactions using a block chain and by implication does not use miners or proof-of-work

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In contrast to both Bitcoin and Ethereum, Corda does not order transactions using a block chain and by implication does not use miners or proof-of-work. Instead each state points to a notary, which is a service that guarantees it will sign a transaction only if all the input states are un-consumed. A transaction is not allowed to consu

Question

In contrast to both Bitcoin and Ethereum, Corda does not order transactions using a block chain and by implication does not use miners or proof-of-work. Instead each state points to a notary, which is a service that guarantees it will sign a transaction only if all the input states are un-consumed. A transaction is not allowed to consume states controlled by multiple notaries and thus there is never any need for [...]. If a combination of states would cross notaries then a special transaction type is used to move them onto a single notary first. See §7 for more information.

Answer

two-phase commit between notaries

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tees it will sign a transaction only if all the input states are un-consumed. A transaction is not allowed to consume states controlled by multiple notaries and thus there is never any need for <span>two-phase commit between notaries. If a combination of states would cross notaries then a special transaction type is used to move them onto a single notary first. See §7 for more information. <span>

Question

Find a sample size for a confidence interval, SD not known : 41% of Jacksonville residents said that they had been in a hurricane. How many adults should be surveyed to estimate the true proportion of adults who have been in a hurricane, with a 95% confidence interval 6% wide?

Answer

Figure out the following variables:

z a/2 = z-score(CI/2 .95 / 2 = .475) = z-score for .475 is 1.96

E (margin of error) = width/2 = 6% / 2 = .06 / 2 = .03

p = 41% = .41

q = 1-p = 1 - .41 = .59

Multiply p by q = .41 × .59 = .2419

Sample size = (z a/2 : E)^2 x (p x q)

z a/2 = z-score(CI/2 .95 / 2 = .475) = z-score for .475 is 1.96

E (margin of error) = width/2 = 6% / 2 = .06 / 2 = .03

p = 41% = .41

q = 1-p = 1 - .41 = .59

Multiply p by q = .41 × .59 = .2419

Sample size = (z a/2 : E)^2 x (p x q)

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Question

Find a sample size given a confidence interval, knowing the standard deviation:

Suppose we want to know the average age of the students on a particular college campus, plus or minus .5 years. We’d like to be 99% confident about our result. From a previo us study, we know that the standard deviation for the population is 2.9 years.

Suppose we want to know the average age of the students on a particular college campus, plus or minus .5 years. We’d like to be 99% confident about our result. From a previo us study, we know that the standard deviation for the population is 2.9 years.

Answer

1. z a/2 = CI/2 = .99 / 2 = .495 and z-score (.495) = 2.58

2. z score x SD = 2.58 × 2.9 = 7.482

3. Step 2 / margin of error: 7.482 / .5 = 14.96

4. Square Step 3: 14.96 × 14.96 = 223.8016

So we need a sample of 224 people

2. z score x SD = 2.58 × 2.9 = 7.482

3. Step 2 / margin of error: 7.482 / .5 = 14.96

4. Square Step 3: 14.96 × 14.96 = 223.8016

So we need a sample of 224 people

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Tags

#has-images

Question

The formula for constructing a CI with the t-distribution

Answer

X is the mean of the sample

t-distribution is used when the sample size is small OR you don't know the standard deviation of the POPULATION.

The t is found by knowing that df (degrees of freedom) is sample size minus one, and alpha is 1-CI divided by 2 and entering these 2 values in a t distribution table.

t-distribution is used when the sample size is small OR you don't know the standard deviation of the POPULATION.

The t is found by knowing that df (degrees of freedom) is sample size minus one, and alpha is 1-CI divided by 2 and entering these 2 values in a t distribution table.

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ideo or read the steps below: If you have one small set of data (under 30 items), you’ll want to use the t-distribution instead of the normal distribution to construct your confidence interval. <span>The formula for constructing a CI with the t-distribution. Sample problem: Construct a 98% Confidence Interval based on the following data: 45, 55, 67, 45, 68, 79, 98, 87, 84, 82. Step 1: Find the mean, μ and standard deviation, σ for the data