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Solving expected value problems
Define random variables
Create a probability distribution table
Check to make sure its a probability distribution (check requirements)
Find expected values with formula
process to solve binomial problems
Define random variables
List and check requirements
Make a probability statement
Write binomial formula and show inputs
Solve
Mean of a probability distribution
E(x)=Σxipi
STD of probability distribution
√Σ(xi-μ)2P(xi)
Variance of a probability distribution
Σ(xi-μ)2P(xi)
usual values max and min
𝑥̄+or-2𝑠
unusually high probabilities
P of x or more successes is less than .05
Unusually low probabilities
Probability of x or less is less than 0.05
requirements for a probability distribution
0≤P(xi)≤1
ΣP(xi)=1
Probability distribution problems format
define random variable
check requirements
write necessary formulas and inputs
solve
Binomial distribution requirements
title
fixed number of trials (n=_)
trials are independent
each trial has 2 outcomes
probability of success never changes (p=_)
x~B(n,p)
calculating probabilities when a random variable is binomially distributed
define random variable
check requirements for binomial distribution
make a probability statement
write formula and inputs
solve
plugging binomial into calc
(n, p, x)
random variable of binomial
x=number of
mean of binomial
𝜇x=𝑛𝑝
standard deviation of binomial
𝜎=√𝑛𝑝𝑞
variance of binomial
𝜎=𝑛𝑝𝑞
Calculating mean, std, variance, usual values of binomial
define random variables
list and check requirements
write down formula and inputs
solve
𝜇x+y
E(x)+E(y)
𝜇x-y
E(x)-E(y)
𝜇a+x or 𝜇a-x
a + E(x) or a - E(x)
𝜇bx
bE(x)
var(a+x)
var(x)
var(bx)
b2var(x)
var(x+y)
var(x)+var(y)
var(x-y)
var(x)+var(y)
requirements for geometric distribution
NOT a fixed number of trials (until)
trials independent
2 outcomes
p of success never changes
x~G(p)
Geometric probability formula
P(x=k)=pqk-1
Geometric in calc
(p, x),
cdf
or equal to
equal to
process to solve geometric problems
define random variables
list and check requirements
make a probability statement
write the geometric formula and show inputs
solve
Geometric mean
𝜇x=(1/p)
Geometric standard deviation
√(q/p)
Geometric variance
(q/p)
Geometric defining random variables
“number of ____ until ____”