Stats Def

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  1. Probability
    A value between zero & one, inclusive, describing the realative possibility (chance or likelyhood) an even will occur
  2. Experiment
    A process that leads to the occurence of one and only one of several possible observations
  3. Outcome
    A particular result of an experiment
  4. Event
    A collection one or more outcomes of an experiment
  5. Classical Probability
    Outcomes of an experiment are equally likely.
  6. Mutually Exclusive
    The occurance of one event means that none of the other events can occur at the same time
  7. Collectively Exhaustive
    At least one of the events must occur when an experiment is conducted
  8. Empirical Probability
    The probability of an event happening is the fraction of the time similar events happened in the past
  9. Law Of Large Numbers
    Over a large # of trials the empirical probability of an event will approach its true probability
  10. Subjective Concept Of Probability
    The likelyhood (probability) of a particular event happening that is assigned by an individual based on whatever info is available.
  11. Special Rule Of Addition
  12. Complement Rule
  13. General Rule Of Addition
  14. Joint Probability
    A probability that measures the likelyhood two or more events will happen concurrently.
  15. Special Rule Of Multipcation
  16. Independence
    The occurance of one event has no effect on the probability of the occurance of another event.
  17. General Rule of Multiplication
  18. Dependent
    One out come relies on another
  19. Conditional Probability
    The probability of a particular event occuring, given that another event has occured.
  20. Contingency Table
    A table used to classify sample observatios according to two or more identifiable characteristics.
  21. Tree Diagram
    Graph that is helpful in organizing calculations that invlove several stages
  22. Prior Probability
    The intial probability based on the present level of information
  23. Posterior Probability
    Arevised probability based on additional information.
  24. Mulitplication Formula
    If there are M ways of doing one thing and n ways of doing another thing, there are MXN was of doing both
  25. Permutation Formula
    Any arrangement of r objects selected from a single group of n possible objects.
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