lesson 1 - probability distributions

Question 1

what is a probability distribution

Answer 1

A probability distribution identifies the probability of all possible outcomes in a sample space. In other words, a probability distribution shows us how 1 or 100% is divided up amongst every possible outcome in a given probability experiment.

Question 2

random variables

Answer 2

Random variables - When focusing on all outcomes when dealing with probability distributions, a random variable, X, to représente the particular event we are focusing on.

Question 3

discrete uniform distribution

Answer 3

Discrete uniform distribution
When all outcomes in a distribution are equally likely in any single trial, we call this a uniform probability distribution.
P(X) = 1 / n

Question 4

what is expected value

Answer 4

Expected value - an expectation/expected value, E(X), is the predicted average of all possible outcomes in a single trial of a probability experiment. Expected value is the long-run average.

Formula E(X) = x P(x)

Question 5

what is fair game

Answer 5

0 expected value = fair game