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Statistics Formula Review 2

# Statistics Formula Review 2 - Statistics Tutors can help...

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Probability Formula Review ~. Types and characteristics of probability ~- A~ypes of probability A 1:,- Classical: peA) = N 2. Empirical: peA) = ~ 3. Subjective: Use empirical formula assuming past data of similar events is appropriate. B. Probability characteristics 1. Range for probability: a ~ PeA) ~ 1 2. Value of complements: P(A) = 1 - P(A) II. Probability rules A. Addition is used to find the sum or union of 2 events. 1. General rule: P(A or B) = P(A) + P(B) - P(A and B) 2. Special rule: P(A or B) = P(A) + P(B) is used when events are mutually exclusive. B. Multiplication is used to determine joint probability or the intersection of 2 events. 1. General rule: P(A and B) = P(A) x P(B I A) 2. Special rule: P(A and B) = P(A) x P(B) is used when the events are independent. Note: For independent events, the joint probability is the product of the marginal probabilities. C. Bayes' theorem is used to find conditional probability. P(A) x P(SIA) P(AIB) = P(A) x P(S I A) + p( A J x p( S I A J Note: The denominator is when condition B happens. It happens with A and with A.

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