Probabilities are expressed - ANSWERSas values between 0 and 1
classical definition of probability - ANSWERSIf the process that generates the outcome is known, and can be deduced from theoretical arguments;
relative frequency definition - ANSWERSbased on empirical data
relative frequency d...
Probabilities are expressed - ANSWERSas values between 0 and 1
classical definition of probability - ANSWERSIf the process that generates the outcome is known, and can
be deduced from theoretical arguments;
relative frequency definition - ANSWERSbased on empirical data
relative frequency definition - ANSWERSprobability that an outcome will occur is simply the relative
frequency associated with that outcome.
subjective definition of probability - ANSWERSbased 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 - ANSWERSa numerical description of the outcome of an experiment, may be
CONTINUOUS OR DISCRETE
discrete random variable - ANSWERSone for which the number of possible outcomes can be counted.
continuous random variable - ANSWERShas outcomes over one or more continuous intervals or real
numbers
expected value - ANSWERSof 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? - ANSWERS3/13
, How do you find joint probabilities? - ANSWERSthe 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? - ANSWERSthe 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)
Bernoulli distribution - ANSWERSThe probability distribution of a random variable with two possible
outcomes, each with a constant probability of occurrence
The bionomial distribution models - ANSWERSn independent replications of a Bernoulli experiment,
each with a probability p of success
The binomial distribution - ANSWERSan assume different shapes and amounts of skewness, depending
on the parameters
The Poisson distribution - ANSWERSis a discrete distribution used to model the number of occurrences in
some unit of measure.
normal distribution - ANSWERSis a continuous distribution described by the familiar bell shaped curve.
MOST IMPORTANT DISTRIBUTION IN STATISTICS
normal distribution - ANSWERSthe distribution is symmetric, so its measure of skewness is zero
normal distribution - ANSWERSThe mean, median, and mode are all equal. Thus, half the area falls above
the mean and half falls below it
normal distribution - ANSWERSThe range of X is unbounded, meaning that the tails of the distribution
extend to negative and positive infinity
68-95-99.7 rule - ANSWERSThe empirical rules apply exactly for the normal distribution
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller papersmaster01. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.
