Emily Cartafalsa
QBMH210-B
Homework 2
Tuesday October 20, 2015
Question 1:
X Values
-2
-1
0
1
2
4
Probability
.308
.176
.011
.352
.088
.066
Possibilities:
2 Black; 2 White; 2 Oranges; 1 Black and 1 White; 1 White and 1 Orange; 1 Black and 1
Orange
Total a

QMB NOTES
Information of collectively exhaustive and mutually exclusive
Collectively exhaustive
Entire sample space is consumed by the stated events
o
One of the events occur
o
Set of events covers entire sample space
Example: randomly choose any day from

Address
320 S Rodeo Dr, Beverly Hills, CA 90212
1234 Coldwater Canyon Dr, Beverly Hills, CA 90210
268 S Clark Dr, Beverly Hills, CA 90211
268 S Clark Dr, Beverly Hills, CA 90211
244 S Clark Dr, Beverly Hills, CA 90211
244 S Clark Dr, Beverly Hills, CA 902

QMB NOTES
Empirical:
Based on observed and collected data
Historical data collected for a problem of interest and probability are calculated
based on frequencies and statistical characteristics of data set.
Example:
o
What is the chance of the professor c

QMB NOTES:
Joint Probability:
Probability of an occurrence involving two or more events.
Example:
o
Group of individuals who planned to purchase and actually purchased a
big-screen tv
EQUATION;
P(Planned to purchase and actually purchased)=
Planned to pur

QMB NOTES
Bayes Theorem
Used to revise previously calculated probabilities based on new information
An extension of conditional probabilities
Contingency tables
Used to computer probabilities
Probability:
Chances of an uncertain event occurring
Ranging fr

QMB
Probability distribution for a discrete random variable
Mutually exclusive list of all possible numerical outcomes along with the
probability of occurrence of each outcome
Covariance:
Measures the strength of the relationship between two numerical ran

QMB NOTES
Event:
A possible outcome of a variable
Normally labeled with a single capital letter
Example:
o
A
Complement of an event:
All events that are not part of the event in question
You do not intend on purchasing a new iPhone
All days from 2014 that

TYPICAL CHAFITS OF ACCOUNTS FDFI DIFFERENT TYPES OF BUSINESSES
A Simple Service Corporation A Complex Merchandising Corporation
Stockholders' Equity
Assets
Liabilities
Cash
Investments in Trading Securities
or Investments in Available-
for-Sale Securiti