Session 2 Flashcards
What does it mean if A and B are mutually exclusive events?
It means that the event A OR B happens
How do you calculate the probability of a mutually exclusive event?
P(AUB) = P(A) + P(B)
What is conditional probability?
Probability that A occurs GIVEN THAT B has already occurred
How do you calculate conditional probability?
P(A/B) = P(A and B) ÷ P(B)
What does it mean if A and B are independent events?
It means that if B happens it won’t affect the probability of A happening
How do you calculate independent probability?
In this case:
P(A/B) = P(A)
What’re some central tendency metrics?
Mode
Median
Mean
What’re some spread metrics?
Range
Inner Quartiles
Variance
What is mode?
Value that appears most frequently
What is the median
The value in the “middle” of a distribution
What is the range
It’s the maximum value - minimum value
