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ST_370_Exam_2_Study_Guide_1 - is a positive real number...

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λ is a positive real number, equal to the expected number of occurrences that occur during the given interval. For instance, if the events occur on average 4 times per minute, and you are interested in the number of events occurring in a 10 minute interval, you would use as your model a Poisson distribution with λ = 10×4 = 40. Random Experiment: Ex. Flip a coin, Roll a dice and observe number, Randomly draw a card from a deck and note its suit, Randomly select a resistor and measure its resistance, etc.. Events: The random experiment’s outcomes. Ex. during a quality-control inspection, the usual events of interest for tested items are “good” and “defective”. Elementary Events: All the possible results of the random experiment. Ex. For a coin flip it would be heads and tails. Sample Space: The set or collection of all the elementary events. Ex. For a coin flip it would be {heads, tails}. Long-Run Frequency Def. of Probability: Probability of an event after many repeated random experiments. Ex. A coin flip, Pr[heads] = .50 Equally-Likely Def. of Probability: = Prheads Size of event setSize of sample space Impossible Event: An outcome that has zero probability.
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