To determine a Probability, we collect ____ from an Experiment to study the effects of a change. correct answers Data
DEF: A scientific process in order to make a discovery, test a hypothesis, or investigate a known fact from historical data; Process that results in an outcome correct answers Ex...
BUAL 2600 - Exam 3 – Gupta || A Verified A+ Pass.
To determine a Probability, we collect ____ from an Experiment to study the effects of a change.
correct answers Data
DEF: A scientific process in order to make a discovery, test a hypothesis, or investigate a known
fact from historical data; Process that results in an outcome correct answers Experiment
DEF: A collection of independent Experiments correct answers Trial
The Probability of an Event is always between ____ and ____. correct answers 0 and 1
DEF: A number that measures
the likelihood that an Event will occur correct answers Probability
A Probability that is greater than .70 is considered ____. correct answers Good
A Probability that is less than .40 is considered ____. correct answers Poor
A Probability that is between .40 and .70 is considered _______. correct answers Average
DEF: Each Outcome from an Experiment correct answers Event
DEF: A result from an Experiment that can be observed correct answers Outcome
The closer the Probability is to 1, the ____ likely the Event will occur. correct answers More
The closer the Probability is to 0, the ____ likely the Event will occur. correct answers Less
DEF: Type of Event that occurs given that the first Event has already occurred correct answers
Dependent Event
DEF: The set of all possible outcomes or Events for an Experiment correct answers Sample
Space
The sum of the Probabilities of all the sample points within a Sample Space must equal to ___.
correct answers 1
DEF: The identical and independent repetitions of an Experiment with two possible outcomes;
Categorizes a Random Variable having two possible Outcomes, each with a constant Probability
of occurrence correct answers Bernoulli Trial (Distribution)
What conditions must the Bernoulli Trial meet? correct answers The Experiment (each Trial) has
only two possible outcomes, denoted generally as a success or failure; a have or have not
The Trials are independent, meaning the outcome of one Trial is independent or does not affect
the outcome of the other Trials
, The Probability of a success remains the same from Trial to Trial
DEF: The Probability that one Event will happen under the condition that some other Event is
already known to have occurred correct answers Conditional Probability
DEF: A numerical description of the outcome of an Experiment correct answers Random
Variable
DEF: A Random Variable that can take one of a finite number of distinct outcome; A variable in
which the number of possible outcomes can be counted; Assumes a countable number of values
correct answers Discrete Random Variable
DEF: A type of Distribution that has two possible outcomes and in which the probability of
success or failure are the same for each Trial; Can be thought of as simply the Probability of a
SUCCESS or FAILURE outcome in an Experiment or survey that is repeated multiple times
correct answers Binomial Distribution
DEF: The number of successes that occur in a period of time or an interval of space in a Poisson
Experiment correct answers Poisson Random Variable
DEF: Type of distribution used to determine the Probability a specific Event will occur over a
specified interval of time correct answers Poisson Distribution
What does the Poisson Distribution model? correct answers Models the number of occurrences
in some unit of measure
In a Poisson Distribution, how many Outcomes does the experiment have? correct answers two
possible outcomes, success or failure
T/F: In a Poisson Distribution, the probability of success in a given interval must be the same for
all equal-size intervals of time or space. correct answers True
In a Poisson Distribution, the number of successes in an interval is __________
(Independent/Dependent) of the number of successes in other intervals. correct answers
Independent
T/F: In a Binomial Distribution, a set number of Trials are performed. correct answers True
In a Binomial Distribution, how many Outcomes does the experiment have? correct answers
Two outcomes, success or failure
In a Binomial Distribution, the Trails are __________ (Dependent/Independent). correct answers
Independent
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