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MSIS 3223 Exam 2 Questions 100% Correct!!
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Probabilities are expressed as values between - ANSWER0 and 1 classical definition of probability - ANSWERIf the process that generates the outcome is known, probabilities can be deduced from theoretical arguments relative frequency definition - ANSWERBased on empirical data. The probability ...

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  • November 2, 2024
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  • msis 3223 exam 2 questions 100 correct
  • msis 3223 exam 2 stuvia 2024
  • probabilities are expressed as values between an
  • classical definition of probability answerif th

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MSIS 3223 Exam 2 Questions 100%
Correct!!

Probabilities are expressed as values between - ANSWER0 and 1



classical definition of probability - ANSWERIf the process that generates the outcome is known,
probabilities can be deduced from theoretical arguments



relative frequency definition - ANSWERBased on empirical data. The probability that an outcome will
occur is simply the relative frequency associated with that outcome.



subjective definition - ANSWERs based on judgment and experience as sports experts might predict
at the start of the football season



A random variable is - ANSWERa numerical description of the outcome of an experiment.



discrete random variable is - ANSWERone for which the number of possible outcomes can be
counted.



continuous random variable has - ANSWERoutcomes over one or more continuous intervals or real
numbers.



The expected value of a random variable corresponds to the - ANSWERnotion of the mean, or
average for a sample.



joint probabilities - ANSWERthe probability that two events both occur



conditional probabilities - ANSWERprobability of one outcome, assuming some other outcome will
happen



independent - ANSWERfree from outside control; not depending on another's variable

, The variance of a discrete random variable may be computed as - ANSWERa weighted average of the
squared deviations from the expected value



The variance measures the uncertainty of the random variable; - ANSWERthe higher the variance,
the higher the uncertainty of the outcome



Binomial distribution - ANSWERThe probability distribution of a random variable with two
possibleoutcomes, each with a constant probability of occurrence



The binomial distribution can assume - ANSWERdifferent shapes and amounts of skewness,
depending on the parameters



The Poisson distribution is - ANSWERa discrete distribution used to model the number of
occurrences in some unit of measure



the most important distribution used in statistics is - ANSWERnormal distribution



normal distribution is a - ANSWERa continuous distribution described by the familiar bell shaped
curve.



The normal distribution is characterized by two parameters: - ANSWERthe mean and the standard
deviation



The distribution is symmetric, - ANSWERso its measure of skewness is zero.



The mean, median, and mode are all equal meaning - ANSWERhalf the area falls above the mean and
half falls below it



The range of X is unbounded, meaning - ANSWERthe tails of the distribution extend to negative and
positive infinity



The empirical rules apply - ANSWERexactly for the normal distribution.

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