Card Set Information
A value between zero & one, inclusive, describing the realative possibility (chance or likelyhood) an even will occur
A process that leads to the occurence of one and only one of several possible observations
A particular result of an experiment
A collection one or more outcomes of an experiment
Outcomes of an experiment are equally likely.
The occurance of one event means that none of the other events can occur at the same time
At least one of the events must occur when an experiment is conducted
The probability of an event happening is the fraction of the time similar events happened in the past
Law Of Large Numbers
Over a large # of trials the empirical probability of an event will approach its true probability
Subjective Concept Of Probability
The likelyhood (probability) of a particular event happening that is assigned by an individual based on whatever info is available.
Special Rule Of Addition
General Rule Of Addition
A probability that measures the likelyhood two or more events will happen concurrently.
Special Rule Of Multipcation
The occurance of one event has no effect on the probability of the occurance of another event.
General Rule of Multiplication
One out come relies on another
The probability of a particular event occuring, given that another event has occured.
A table used to classify sample observatios according to two or more identifiable characteristics.
Graph that is helpful in organizing calculations that invlove several stages
The intial probability based on the present level of information
Arevised probability based on additional information.
If there are M ways of doing one thing and n ways of doing another thing, there are MXN was of doing both
Any arrangement of r objects selected from a single group of n possible objects.