not chapter 1 but something else Flashcards
define simulation
the imitation of a chance behavior based on the model that accurately reflects the situation
what are some common errors when using a table of random digits?
a common misconception is to believe some digits are more random than others
law of large numbers
if we do things many many times the proportion of outcomes will approach the expected probability
the probability of any outcome of a chance process equals
a number between 0 and 1 that describes the proportion of times the outcome would occur in a very long series of repetitions
how do you interpret a probability
the closer the prob is to one, the more likely the event is to occur
what are the two myths about randomness
- randomness is predictable in the short run 2. a certain outcome is sure to occur after a large amount of simulation repetitions
name and describe the four steps in performing a simulation
state, plan, do, conclude (self explanatory)