# April 7 - April 7 2008 Probability and distributions...

This preview shows pages 1–2. Sign up to view the full content.

April 7, 2008 Probability and distributions Probability o The likelihood of something happening; the number of times an event can occur divided by the times is does o The likelihood something will occur o Probability = 13/52 = .25 <- the probability of pulling any card of one suit P(ace) = 4/52 = 1/13 = .08 <- the probability of pulling an ace o Though real trials may not work out like this, the will in the long run (i.e. the house always wins) o Probability is always between 0 and 1 Calculating probability o For mutually exclusive events: The probability of A or B occurring is the sum of their individual probabilities The probability of A and B occurring is P(A) x P(B) o For non-mutually exclusive events, we need to consider their joint probability, too o The importance here is to understand that we can, in theory, calculate probability Probability distributions o With just a little information, we can calculate the probability of any event occurring o

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern