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Random Phenomenon
A situation where the outcome is uncertain
Sample Space
The set of all possible outcomes
Event
A subset of the sample space
Probability
A number between 0 and 1 that describes the likelihood of an event occurring
Complement
The event that an event does not occur
Addition Rule
For any two events, P(A or B) = P(A) + P(B) – P(A and B)
Multiplication Rule
For independent events, P(A and B) = P(A) × P(B)
Conditional Probability
The probability of event A given that event B has occurred, denoted P(A|B)
Independent Events
Two events are independent if the occurrence of one does not affect the probability of the other
Random Variable
A variable that takes numerical values determined by the outcome of a random phenomenon
Discrete Random Variable
A random variable that has a finite or countable number of possible values
Continuous Random Variable
A random variable that can take any value in an interval
Probability Distribution
A function that gives the probabilities of a random variable's possible values
Expected Value (Mean)
The average value of a random variable over many repetitions
Variance
The expected value of the squared deviation from the mean
Standard Deviation
The square root of the variance
Binomial Distribution
The probability distribution of the number of successes in a fixed number of independent trials with the same probability of success
Geometric Distribution
The probability distribution of the number of trials needed to get the first success in repeated, independent Bernoulli trial