100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MSIS 3223 - EXAM 2 Questions & Answers(RATED A+) $13.49   Add to cart

Exam (elaborations)

MSIS 3223 - EXAM 2 Questions & Answers(RATED A+)

 0 view  0 purchase
  • Course
  • MSIS 3223 - E
  • Institution
  • MSIS 3223 - E

Probability - ANSWERThe likelihood that an outcome occurs Experiment - ANSWERThe process that results in an outcome Outcome - ANSWERResult of an experiment that can be observed Sample space - ANSWERThe collection of all possible outcomes of an experiment Complement of an event - ANSWERA...

[Show more]

Preview 2 out of 7  pages

  • November 2, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MSIS 3223 - E
  • MSIS 3223 - E
avatar-seller
papersbyjol
MSIS 3223 - EXAM 2 Questions &
Answers(RATED A+)

Probability - ANSWERThe likelihood that an outcome occurs



Experiment - ANSWERThe process that results in an outcome



Outcome - ANSWERResult of an experiment that can be observed



Sample space - ANSWERThe collection of all possible outcomes of an experiment



Complement of an event - ANSWERAll possible outcomes that are not in the event



Union of events - ANSWERIf the notation (A and B) represents the intersection of events A and B, the
collection of all outcomes that belong to either A or B or to both A and B



Non-mutually exclusive events - ANSWERIf the notation (A and B) represents the intersection of
events A and B, the collection of all events that belong to both A and B



Event - ANSWERA collection of one or more outcomes from a sample space




Combinations - ANSWERUnique outcomes that must be counted when order does not matter



Permutations - ANSWERThe outcomes that are counted when order does matter



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



Relative frequency definition of probability - ANSWERProbabilities are based on empirical data; the
probability is simply the relative frequency associated with that outcome

, Subjective definition of probability - ANSWERProbabilities are based on judgment and experience



Joint probability - ANSWERThe probability of the intersection of two events



Marginal probability - ANSWERThe probability of an event irrespective of the outcome of the other
joint event



Discrete distributions - ANSWERProbability distribution of the discrete outcomes of a discrete
random variable



Cumulative distribution function - ANSWERA function that specifies the probability that a random
variable is less than or equal to a specified value



Expected value - ANSWERThe average of each possible outcome of a future event, weighted by its
probability of occurring




Conditional probability - ANSWERThe probability of occurrence of one event A, given that another
event B is known to be true or has already occurred



Independent events - ANSWERTwo or more events in which the outcome of one event does not
affect the outcome of the other event(s)



Random variable - ANSWERA numerical description of the outcome of an experiment



Discrete random variable - ANSWERVariable where the number of outcomes can be counted and
each outcome has a measurable and positive probability



Continuous random variable - ANSWERA random variable that may have outcomes over one or more
continuous intervals or real numbers



Probability distribution - ANSWERA characterization of the possible values that a random variable
may assume along with the probability of assuming these values

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 papersbyjol. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

82191 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.49
  • (0)
  Add to cart