First Exam - STA 4321/5325 – Summer 2010What is the difference between a population and a sample; a parameter and a statistic? What are the three axioms of probability? Know the Complement Law and Additive Law and how to use them. In equally likely settings, how are probabilities assigned? Be able to use the mn counting rule, permutations and combinations? Know their formulas.What are the definitions of a conditional probability and the Multiplicative Law of Probability? What do we mean by independent events? What is difference between mutually exclusive and independent? What is the multiplicative law under independence? How do the multiplicative and the additive laws extend to more than 2 events? What is the Law of Total Probability? What does Bayes Theorem say? Be able to apply these.What is a random variable? What is a discrete random variable and how is its distribution described? What are the three rules for finding expected values of random variables? Be able to find the mean and variance of a discrete random variable.
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