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5 Cards in this Set
- Front
- Back
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Probability
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the probability of any outcome of a chance process in a number between 0 and 1that describes the proportion of times the outcome would occur in a very long series of repetitions.
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Law of large numbers
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This important result says that if we observe more and more repetition of any chance process
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Simulations
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The use of a mathematical model to recreate a situation, often repeatedly, so that the likelihood of various outcomes can be more accurately estimated.
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State-Plan-Do-Conclude
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STATE parameter, confidence level
PLAN inference method, check conditions DO calculations CONCLUDE interpret interval in the context of the problem |
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Model Simulation
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performing the four step process in the same question with different numbers to simulate an answer
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