StatisticsCh5 - Uses probability values based on an...

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Stats: Probability Definitions Probability Experiment Process which leads to well-defined results call outcomes Outcome The result of a single trial of a probability experiment Sample Space Set of all possible outcomes of a probability experiment Event One or more outcomes of a probability experiment Classical Probability Uses the sample space to determine the numerical probability that an event will happen. Also called theoretical probability. Equally Likely Events Events which have the same probability of occurring. Complement of an Event All the events in the sample space except the given events. Empirical Probability Uses a frequency distribution to determine the numerical probability. An empirical probability is a relative frequency. Subjective Probability
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Unformatted text preview: Uses probability values based on an educated guess or estimate. It employs opinions and inexact information. Mutually Exclusive Events Two events which cannot happen at the same time. Disjoint Events Another name for mutually exclusive events. Independent Events Two events are independent if the occurrence of one does not affect the probability of the other occurring. Dependent Events Two events are dependent if the first event affects the outcome or occurrence of the second event in a way the probability is changed. Conditional Probability The probability of an event occurring given that another event has already occurred. Bayes' Theorem A formula which allows one to find the probability that an event occurred as the result of a particular previous event....
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This note was uploaded on 01/26/2012 for the course MATH 1070 taught by Professor Akbas during the Spring '08 term at Georgia State University, Atlanta.

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