MSIS 3223 Exam 2 Okstate Study Guide Questions Solved Solutions.
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Course
MSIS 3223
Institution
MSIS 3223
Probabilities are expressed - Answer as values between 0 and 1
classical definition of probability - Answer If the process that generates the outcome is known, and can be deduced from theoretical arguments;
relative frequency definition - Answer based on empirical data
relative fr...
MSIS 3223 Exam 2 Okstate Study Guide
Questions Solved Solutions.
Probabilities are expressed - Answer as values between 0 and 1
classical definition of probability - Answer If the process that generates the outcome is known, and can
be deduced from theoretical arguments;
relative frequency definition - Answer based on empirical data
relative frequency definition - Answer probability that an outcome will occur is simply the relative
frequency associated with that outcome.
subjective definition of probability - Answer based on judgment and experience as sports experts might
predict at the start of the football season—what is the probability of a specific team winning the national
championship?
random variable - Answer a numerical description of the outcome of an experiment, may be
CONTINUOUS OR DISCRETE
discrete random variable - Answer one for which the number of possible outcomes can be counted.
continuous random variable - Answer has outcomes over one or more continuous intervals or real
numbers
expected value - Answer of a random variable corresponds to the notion of the mean, or average for a
sample. Expected value can be helpful in making a variety of decisions
What is the probability that a respondent is female and prefers Science? - Answer 3/13
, How do you find joint probabilities? - Answer the probability of the intersection of two events, easily
calculated by dividing the number of respondents needed by the total of respondents. P(O1) = P(F and
B1)
How do you find conditional probabilities? - Answer the probability of occurrence of one event A, given
that another event B is know to be true or has already occurred (can help predict future purchases based
on past purchases), multiplying the probability of the proceeding event by the probability of the.
succeeding or condition event. P(A/B) = P(A and B)/P(B)
How do you identify that two events are independent? - Answer P(A/B) = P(A), multiply the
probabilities of the two events together to see if they equal the probability of them both happening
together
The variance of a discrete random variable - Answer may be computed as a weighted average of the
squared deviations from the expected value. A common measure of dispersion.
The variance measures the uncertainty of the random variable - Answer the higher the variance, the
higher the uncertainty of the outcome
Bernoulli distribution - Answer The probability distribution of a random variable with two possible
outcomes, each with a constant probability of occurrence
The bionomial distribution models - Answer n independent replications of a Bernoulli experiment, each
with a probability p of success
The binomial distribution - Answer an assume different shapes and amounts of skewness, depending
on the parameters
The Poisson distribution - Answer is a discrete distribution used to model the number of occurrences in
some unit of measure.
normal distribution - Answer is a continuous distribution described by the familiar bell shaped curve.
MOST IMPORTANT DISTRIBUTION IN STATISTICS
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