Lecture 1: Gambling/Probability Flashcards
1
Q
probability
A
number that indicates how likely an event is to occur
2
Q
randomness
A
an unpredictable event
3
Q
probability distribution
A
- if known, then frequency of outcomes is predictable
- shows all the combinations
4
Q
sample space
A
trial set of all possible outcomes
5
Q
probabilities of events
A
subsets of the sample space
6
Q
expected vs observed values
A
expected is what we think; observed is what actually happens
7
Q
why do we perform chi-squared tests?
A
to quantify how closely our result matches our expectation
8
Q
how to perform a chi-squared test
A
sum [ (observed - expected)^2 / (expected) ]
9
Q
How to interpret results of chi-squared test
A
if value is greater than what is observed, we reject the null hypothesis
