Stats Ch. 5

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5 Terms

1
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Chance behavior is

unpredictable in short term but more predictable in long term

2
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Law of large numbers

 if we observe more and more repetitions of any chance process, the proportion of times that a specific outcome occurs approaches a single value

3
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Future outcomes are not affected by past behavior.

True

4
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sample space S

set of all possible outcomes

5
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probability model

2 parts: sample space and probability of outcomes