Exam 2 review

Question 1

A value between 0 and 1, inclusive, describing the relative possibility an event will occur

Answer 1

Probability

Question 2

A process that leads to the occurrence of one and only one of several possible results

Answer 2

Experiment

Question 3

A result of an experiment

Answer 3

Outcome

Question 4

A collection of one or more outcomes of an experiment

Answer 4

Event

Question 5

The total arrangements of (m)(n) where m and n are total number of possibilities of events. three dice has 6 outcome for each, so (6)(6)(6) is the formula

Answer 5

Multiplication Fourmula

Question 6

When there is a single group of events and we want to determine the number of all possible arrangements of an outcome from the group.
An arrangement of r objects selected from a single group of n possible objects

Answer 6

Permutation

Question 7

An event of outcomes when the order of the outcomes does not matter

Answer 7

Combination

Question 8

Probability that is based on the assumption that the outcomes of and experiment are equally likely. What is the formula

Answer 8

Classical probability
favorable outcomes/possible outcomes

Question 9

The occurrence of one event means that none of the other events can occur at the same time.

Answer 9

mutually exclusive

Question 10

When a list of outcomes is complete (shows all outcomes)

Answer 10

Collectively exhaustive

Question 11

Law that states over a large number of trials, the empirical probability of an event will approach it’s true probability

Answer 11

law of large numbers

Question 12

The likelihood of a particular event happening that is assigned by an individual based on whatever information is available

Answer 12

Subjective Probability

Question 13

Rule that states that if A and B are mutually exclusive the probability of one or the other occurring equals the sum of their probabilities. State rule and formula

Answer 13

Special rule of addition
P(A) + P (B)

Question 14

Used to compute the probability of two events that are not mutually exclusive

Answer 14

general rule of addition
P(A or B) = P(A) + P(B) - P(A and B)

Question 15

Rule that state the odds of something happening plus the odds of it not happening must equal 1

Answer 15

complement rule

Question 16

A probability that measures the likelihood two or more events will happen concurrently

Answer 16

Joint probability

Question 17

Rule that states if two independent events A and B, the probability that a and b will both occur is found by multiplying the two probabilities

Answer 17

Special rule of multiplication

Question 18

Used when the conditional probability is required to compute the joint probability of two events that are not independent

Answer 18

General rule of multiplication
P(A and B) = P(A) P(B/A)

Question 19

The occurrence of one event has no effect on the probability of the occurrence of another event

Answer 19

Independence

Question 20

The probability of a particular event occurring, given that another event has occurred

Answer 20

conditional probability

Question 21

A table used to classify sample observations according to two or more identifiable categories or classess

Answer 21

Contingency table

Question 22

A visual that is helpful in organizing and calculating probabilities for problems similar to the previous example/solution.

Answer 22

tree diagram

Question 23

Formula used to calculate posterior probability

Answer 23

Bayes Theorem

Question 24

The initial probability based on the present level of information

Answer 24

Prior probability

Question 25

A revised probability based on additional information

Answer 25

Posterior probability

Question 26

A listing of all the outcomes of an experiment and the probability associated with each outcome

Answer 26

probability distribution

Question 27

A variable measured or observed as the result of an experiment. By chance, the variable can have different values.

Answer 27

Random variable

Question 28

A discrete distribution where
1. An outcome on each trial is classified as success of failure
2. The random variable is the number of successes
3. The probability of success is the same for each trial
4. The trials are independent

Answer 28

binomial probability distribution

Question 29

A discrete distribution where
1. An outcome on each trial is a success of failure
2. The random variable is the number of successes
3. The trials are not independent
4. We assume that we sample from a finite population without replacement. The probability changes with each trial

Answer 29

Hypergeometric probability distribution

Question 30

A discrete distribution where
1. Describes the number of times some event occurs during a specified interval
2. The probability of the event is proportional to the size of the interval
3. The intervals do not overlap

Answer 30

Poisson probability distribution

Question 31

A continuous probability distribution where the shape is always rectangular with a base determined by the minimum value of a and a height of maximum value of b.

Answer 31

Uniform Probability distribution

Question 32

A normal probability distribution with a mean equal to 0 and variance equal to 1

Answer 32

Normal probability distribution

Question 33

This continuous probability distribution usually describes times between events in a sequence.

Answer 33

exponential probability distribution