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math 1530

4-2: basic concepts of Probability

Descriptive Statistics used to summarize or describe characteristics of data with tools such as frequency distributions, graphs, and measures of center and variation
Inferential Statistics used to make inferences or generalizations about a population
Probability chances/odds of something happening
Event any collection of results or outcomes of a procedure
Simple Event an outcome or an event that cannot be further broken down into simpler components
Sample Space consists of all possible simple events; that is, the sample space consists of all outcomes that cannot be broken down any further.
Law of large numbers as a procedure is repeated again and again, the relative frequency of an even tends to approach the actual probability
Probability limits -probability of an impossible event is 0 -Probability of an event that is certain to occur is 1
Complementary Events The complement of event A, consists of all outcomes in which the event A does not occur
Rounding off Probabilities When expressing the value of a probability, either give the exact fraction or decimal or round off final decimal results to three significant digits
Created by: crickie11