Module 2 Flashcards
What makes an experiment random?
On any single repetition or trial, the outcome is determined completely by chance.
What does “list the sample points” mean?
list the individual possible outcomes (not all the combinations)
What is an event?
A collection of sample points - an event has occurred if any one of those sample points appears.
What are the ways of assigning probabilities?
Classical method
Relative frequency method
Subjective method
What is the classical method of assigning probabilities?
- assumption of equally likely outcomes
- probability = successes / N
What is the relative frequency method of assigning probabilities?
Based on the relative frequency that has occurred historically or during an experiment
What is the subjective method of assigning probabilities?
Just based on the assignor’s judgement.
What is the probability of an event?
The sum of the probabilities of the sample points in the event.
What’s the complement of an event?
It’s opposite… all the sample points that are not in the event.
What’s the union of two events?
All sample points in one, the other, or both.
What’s the intersection of two events?
Only the sample points that are in both events.
What’s a marginal probability?
The probability of each event separately in a joint probability table. Called this because they appear at the margins of the table.
What are the laws of probability?
- The sum of all probabilities of all non-overlapping events is 1.
- All probabilities are non-negative.
What’s a prior probability?
Essentially the first estimate or what the first results show is the probability
What’s a posterior probability?
Has been revised based on new knowledge, generally using Bayes’ Theorem.
