Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
remaining cards
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Business Stats ch 6

Basic Statistics for Business and Economics ch 6

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.
Created by: dengler