Business Stats ch 6 Word Scramble
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Question | Answer |
Probability Distribution | A listing of all the outcomes of an experiment and the probability associated with each outcome. |
Characteristics of a Probability Distribution | The probability of a particular outcome is between 0 and 1 inclusive. The outcomes are mutually exclusive events. The list is exhaustive, so the sum of the probabilities of the various events is equal to 1. |
Random Variable | A quantity resulting from an experiment that, by chance, can assume different values. |
Discrete Random Variable | A random variable that can assume only certain clearly separated values. |
Expected Value | The mean of a probability distribution. |
Binomial Probability Distribution | A widely occurring discrete probability distribution. |
What are the binomial characteristics? | An outcome of an experiment is classified into of 2 mutually exclusive categories. The random var counts the number of successes in a fixed number of trials. The probability of success and failure stay the same for each trial. The trials are independent. |
The Greek letter pi is? | The probability of success on each trial. |
n = | The number of trials. |
x = | The random variable defined as the number of successes. |
Poisson Probability Distribution | Describes the number of times some event occurs during a specified interval. The interval may be time, distance, area, or volume. |
What are the characteristics of a Poisson Probability Distribution? | The random variable is the number of times some event occurs during a defined interval. The probability of the event is proportional to the size of the interval. The intervals do not overlap and are independent. |
mu is? | The mean number of occurrences (successes) in a particular interval. |
e is? | The constant 2.71828 (base of the Napierian logarithmic system). |
P(x) is? | The probability for a specified value of x. |
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dengler
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