Probability Flashcards
1
Q
Define Skewness
A
Measure of bilateral symmetry; average is high, and graph is not symmetrical
2
Q
Define Kurtosis
A
Measure of relative peakedness; “p” is between 0 and 1
3
Q
Define Probability
A
Long-run proportion of a particular outcome
4
Q
What is the formula for probability “p”?
A
p = ___positive occurrences___
total occurrences
5
Q
When p = 0, what does that mean?
What about p=1?
A
P=0 means the probability will NEVER happen, ever
P=1 means the probability of it happening will be ALWAYS, for sure gonna happen
