CSN - ECON 261 - QUIZ #5

CSN - ECON 261 - QUIZ #5 - PRINCIPLES OF STA TISTICS I EGON...

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PRINCIPLES OF ST A TISTICS I EGON 261 1 t I [ s QUIZ#5 NAME: True(T)/False(F) _ 2C _ 1. ~ 2. / \ 3. / _ f _____ 4. £ _s £ 6 f ? . -~ -8 . The complement rule states that the probability of an event not occurring is equal to one minus the probability of its occurrence. The probability of a particular outcome, designated X, must always be between O and 1. The joint probability of two independent events, A and B, is computed as: P (A and B) = P (A) P (B ). If two events are mutually exclusive or disjoint, then P (A or B) = P (A ) P (B ). A joint probability measures the likelihood that two or more events will happen concurrently (same time). The closer a probability is to 1, the more likely the event will happen. The Cunard luxury liner, Queen El izabeth 2, cannot be docked in Hong Kong and Bangkok at the same time. Events such as these that cannot occur simultaneously are said to be mutually exclusive
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