CHAPTER 5 STUDY GUIDE

CHAPTER 5 STUDY GUIDE - CHAPTER 5 STUDY GUIDE Not including...

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Not including contingency tables or tree diagrams 11/11/2007 17:25:00 A PROBABILITY is a number between 1 and 0 that represents the likelihood of  a  particular event happening. CLASSICAL PROBABILITY CLASSICAL PROBABILITY- there are  n   equally likely outcomes to an  experiment (an observation of some activity or the act of taking a measurement)   P of an event =   number of favorable outcomes                                 Total number of possible outcomes       ex: one card is randomly selected from a standard 52 card deck. What is the  prob the card will be a queen? *       queens in a deck                                                         52  cards total          =.0769 EMPERICAL PROBABILITY - prob of an event happening is the fraction of  the time similar events happened in the past Empirical P=   number of times the event occurs                                  Total number of observations    ex: the center for drug rehabilitation counts 539 patients and their recovery  status. 333 are fully recovered, 182 relapsed and 24 still using. What is the prob a  particular patient chosen will be relapsed? *182                                                                                   539= .338 SUBJECTIVE PROBABILITY SUBJECTIVE PROBABILITY - based on whatever information is available Ex: prob that the new England patriots will play in the superbowl next year Prob that you will be married before the age of 30   
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This note was uploaded on 04/07/2008 for the course MARK 231 taught by Professor Stauble during the Spring '08 term at Redlands.

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CHAPTER 5 STUDY GUIDE - CHAPTER 5 STUDY GUIDE Not including...

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