Chapter 3 Flashcards
What is a probability?
a numerical quantity that expresses the likelihood of an event
How is the probability of event E written?
Pr{E}
What is Pr{E} always between?
0 and 1 (inclusive)
What is the frequentist interpretation of Probability?
Pr{E} = (number of times event E occurs)/ (number of times chance operation is repeated)
What is Bayesian probability?
expresses someone’s belief that an event will happen
In a Bayesian analysis what is there before any data is collected?
-prior probability
-then when data is collected there is a calculation to update to a posterior probability
Know how to use probability trees
What is the hypothetical 1,000?
Multiply the probabilities in the tree by 1,000 and make a table
What is the probability of all possible events?
1
What is the probability that an event does not happen?
1-Pr{E} = E complement (E^c)
What is the addition rule for any two events E1 and E2?
Pr{E1 or E2} = Pr{E1} + Pr{E2} - Pr{E1 and E2}
When are two events E1 and E2 said to be disjoint?
Pr{E1 and E2} = 0 meaning no overlap
What is the conditional probability of E2 given E1?
Pr{E2|E1} = Pr{E2 and E1) / Pr{E1}
What is the multiplication rule for any two events E1 and E2?
Pr{E1 and E2} = Pr{E1} x Pr{E2|E1} = Pr{E2 and E1}
Also:
Pr{E1 or E2} = Pr{E2 or E1}
When are events E1 and E2 independent?
If Pr{E1 and E2} = Pr{E1} x Pr{E2}
-Pr{E2|E1} = Pr{E2}
-Pr{E1|E2} = Pr{E1}
-two events are independent if knowing that one event occurred does not change the probability of the other event occurring
What is the Law of Total Probability?
For any two events E and F,
Pr{F} = P{E and F} + P{E^c and F}
Using the Multiplication Rule on the Law of Total Probability?
P{F} = P{F|E}P{E} + P{F|E^c}P{E^c}