exam 3 - math104

Bayes probability

A method of calculating the probability of an event based on prior knowledge or beliefs about conditions that might be related to the event.

Bernoulli trial

A random experiment where there are only two possible outcomes: success or failure.

Stochastic process

A collection of random variables representing a process that evolves over time.

Bernoulli process

A type of stochastic process that consists of a sequence of independent Bernoulli trials.

Random variable probability

The likelihood of a random variable taking on a particular value.

Density function

A function that describes the relative likelihood for a random variable to take on a given value.

Expected value

The long-term average value of repetitions of the same experiment it represents.

Variance

A measure of the dispersion or spread of a set of values, defined as the average of the squared differences from the mean.

Standard deviation

The square root of the variance, representing the average distance of each data point from the mean.

Feasible region

The set of all possible points that satisfy a given set of constraints in an optimization problem.

Corner points

The vertices of the feasible region in a graphical representation of a linear programming problem.