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In statistics, what is meant by probability
The proportion of times the event would occur in many trials of the random process
How do you estimate probabilities using simulation?
Describe how to set up and use a random process to perform one trial of the simulation. Identify what you will record at the end of each trial.Perform many trials.Use the results of your simulation to answer the question of interest
What is meant by the complement of an event?
The event that does not occur
What is the law of large numbers?
That if we observe more and more trials, the outcome will approach the probability.
In statistics, what is a sample space?
The list of all possible outcomes
In statistics, what is an event?
A subset of possible outcomes
Explain why the probability of any event is a number between 0 and 1.
A proportion is a number between 0 and 1,
What is the sum of the probabilities of all possible outcomes?
1
Describe the probability that an event does not occur?
1 minus the probability of it occurring
Explain why the probability of getting heads when flipping a coin is 50%.Theoretical probability formula.
There are 2 possible outcomes, the probability formula is 1/2
When are two events considered mutually exclusive (disjoint)?
There are no outcomes in common
What is meant by conditional probability?
the probability that one event happens given that another event is already known to have happened.
Can disjoint events be independent?
Two mutually exclusive events with nonzero probabilities can never be independent, because if one event happens, the other event is guaranteed not to happen.
Explain the difference between the union and the intersection of two or more events.
Union is when either event occurs, while the intersection is when they occur at the same time.
State the formula used to determine if two events are independent.
P(A and B)=P(A)xP(B)
How do you determine if it is appropriate to use the multiplication rule of independent events in a given setting?
to find the probability of both events at the same time