Chapter 5: A Survey of Probability Concepts

Question 1

inferential statistics/statistical inference

Answer 1

computing the chance that something will occur in the future

Question 2

probability

Answer 2

a value between zero and one, inclusive, describing the relative possibility an event will occur

Question 3

experiment

Answer 3

a PROCESS that leads to the occurrence of one and only one of several possible results

Question 4

outcome

Answer 4

a particular result of an experiment

Question 5

event

Answer 5

a collection of one or more outcomes of an event

Question 6

classical probability

Answer 6

probability of an event = number of favorable outcomes / total number of possible outcomes

Question 7

mutually exclusive

Answer 7

the occurrence of one event means that none of the other events can occur ie: male or female, acceptable or unacceptable

Question 8

collectively exhaustive

Answer 8

at least one of the events must occur when an experiment is conducted

Question 9

empirical probability/relative frequency

Answer 9

the probability of an event happening is the fraction of the time similar events happened in the past. number of times the event occurs/ total number of observations

Question 10

law of large numbers

Answer 10

ober a large number of trials, the empirical probability of an event will approach its true probability

Question 11

subjective probability

Answer 11

the likelihood (probability) of a particular event happening that is assigned by an individual based on whatever information is available

Question 12

special rule of addition

Answer 12

P(A or B) = P(A) + P(B)

Question 13

complement rule

Answer 13

P(A) = 1 - P(-A)

Question 14

joint probability

Answer 14

a probability that measures the likelihood two or more events will happen concurrently

Question 15

general rule of addition

Answer 15

P(A or B) = P(A) + P(B) - P(A and B)

Question 16

independence

Answer 16

the occurrence of one event has no effect on the probability of the occurrence of another event

Question 17

special rule of multiplication

Answer 17

P(A and B) = P(A)P(B)

Question 18

conditional probability

Answer 18

the probability of a particular event occurring, give that another event has occurred

Question 19

contingency table

Answer 19

a table used to classify sample obsercations according to two or more identifiable categories or classes

Question 20

multiplication formula

Answer 20

if there are m ways of doing one thing and n ways of doing another, there are m x n ways of doing both. total number of outcomes = (m)(n)

Question 21

permutation

Answer 21

any arrangement of r objects selected from a single group of n possible objects

Question 22

permutation formula

Answer 22

P = n! / (n-r)!

Question 23

combination formula

Answer 23

C = n! / r! (n-r)!