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...
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
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 EFT, 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 this summary 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 this summary for R253,93. You're not tied to anything after your purchase.
