Exam II Review Flashcards
Classical approach
P(E) = Possible outcomes where E occurs / Total possible outcomes
Relative frequency approach
P(E) = Trials where E occurs / Total trials
Subjective approach
P(E) = Best guess
*Use when trials aren’t possible
Sample space
A collection or a set of possible outcomes of a random experiment
Unions
At least one of a number of possible events occurs.
A or B
Conjunctions
Two or more events all occur.
A and B
Marginal probability
The probability that a “simple” event will occur
Joint probability
The probability that two or more
events occur together
Conditional probability
The probability that an event occurs,
given that another event occurs
Independent events
The occurrence of A does not predict the occurrence of B. (And vise versa)
Testing for independence
Events A and B are independent if and only if
P(A|B) = P(A)
P(B|A) = P(B)
P(A and B) = P(A) x P(B)
If any one of these statements is true, the others are also true, and if any one of these statements is false, the others are also false.
Dependent events
The occurrence of one does help predict the occurrence of another
Inverse conditional probabilities
Generally, conditional probabilities cannot be inversed.
(As with most things, there are exceptions)
Discrete probability distribution
A list of all possible values of a discrete random variable X, with their respective probabilities
The list of outcomes is exhaustive.
The outcomes are mutually exclusive.
The probabilities sum to 1.
Continuous probability distribution
Have probability density functions (PDFs)
Parameter
Numerical descriptors of a population
Values usually unknown
Statistic
Numerical descriptors of a sample
Calculated from observations in the sample
Sampling error
Different samples will yield different values for the same statistic.
Different samples have different sample
means and standard deviations.
Sampling distributions
Probability distributions of multiple samples drawn from the same population that represent one sample statistic (such as mean or standard deviation)
Standard error
The standard error is a standard deviation, but the special name emphasizes that it’s the standard deviation of the sampling distribution.
Central Limit Theorem
As n increases, the distribution of
x-bar becomes normal and gets skinnier
Point estimates
A point estimate is a single number.
x-bar is a point estimate for μ.
A point estimate is unbiased if on average it
equals the thing we’re trying to estimate.
Interval estimates
An interval estimate for the population mean is a range of possible
values for μ.
Factors that affect CI width
Confidence level, sample size, and standard deviation of the population