Stats Methods 2

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1. The Odds Ratio
The odds ratio is the ratio of the odds of an event occurring in one group to the odds of it occurring in another group.
2. Relative Risk
The ratio of the probability of a given event occurring in one group to the probability of the same event in the other group.

p(A)1/p(A)2
3. Odds
The odds of a n event is the ratio of probabilty that the event occurs to the probabilty that it does not occur.

P(A) = ODa/1+ODa
4. Bayes Theorem
Bayes Theorem is based on individual belief to capture probability and to revise it as new information arrives.

Posterior = (Prior)(Likelihood)/Marginal

• Prior - Before sample information is collected
• Posterior - A prior after sample information is collected and analyzed.
• Likelihood- Probability of sample information given the state of nature will take place.
• Marginal - Probability of observing data whether the state of nature is true or false.
5. Bernolli Distribution

What are some of the Characteristics?

What is the PD, MGF, Mean and Variance?
• Characteristics
• i.  One trial
• ii. Trial has 2 outcomes

• PD
• px(1-p)1-x

• MGF
• pet(1-p)

• MEAN
• p

• Variance
• p(1-p)
6. Geometric Distribution

What are some of the Characteristics?

What is the PD, MGF, Mean and Variance?
7. Binomial Distribution

What are some of the Characteristics?

What is the PD, MGF, Mean and Variance?
• Characteristics
• i. n identical trials
• ii. 2 possible outcomes
• iii. Trials are independent

• PD
• (n

• MGF
• [1+p(et-1)]n

• Mean
• np

• Variance
• np(1-p)
 Author: QweenT ID: 266052 Card Set: Stats Methods 2 Updated: 2014-03-13 15:50:57 Tags: ffff Folders: fffff Description: ffff Show Answers: