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22 Cards in this Set
- Front
- Back
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What are the two types of objective probability? |
1. Classical 2. Empirical |
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What is classical probability? |
based on assumption that the outcomes of an experiment are equally likely
p = # favourable outcomes / # possible outcomes |
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What is empirical probability? |
based on the number of times an event occurs as a proportion of a known number of trials
p = # times event occurred in past / total # observations |
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Over a large number of trials, the empirical probability of an event will approach its true probability.
What is this? |
law of large numbers |
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The likelihood of a particular event happening that is assigned by an individual based on whatever information is available.
What is this? |
subjective probability |
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A basketball player makes 30 out of 50 free throws. The probability is 0.6 that she makes the next free throw attempted.
What kind of probability is this? |
empirical because it is based on the number of times she has made a free throw. |
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A seven-member committee of students is formed to study environmental issues. What is the likelihood that any one of the seven is chosen as the spokesperson?
What kind of probability is this? |
classical because we know that there are one can be chosen of the 7 (1 is the favourable and 7 is the total number of possible outcomes). |
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You purchase on of five million tickets sold for lotto max. What is the likelihood you win the next jackpot?
What kind of probability is this? |
classical because we know that one can be chosen from many (1 is the favourable outcome and "many" is the total number of possible outcomes). |
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The probability of an earthquake in northern California in the next 10 years is 0.80.
What kind of probability is this? |
subjective because using other relative information to estimate probability. |
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An overnight express company must include 5 cities on its route. How many different routes are possible, assuming that it does not matter in which order the cities are included in the routing? |
5! = 120 |
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A _________ is a value between zero and one, inclusive, describing the relative chance or likelihood an event will occur. |
probability |
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An ___________ is a process that leads to the occurrence of one and only one of several possible observations. |
experiment |
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An _____________ is a collection of one or more outcomes of an experiment. |
event |
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Using the _________ viewpoint, the probabiity of an event happening is the fraction of the time similar events happened in the past. |
relative frequency |
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Using the ___________ viewpoint, the probability of an event happening is computed by dividing the other events can occur at the same time. |
classical |
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If several events are described as __________, then the occurrence of one event means that none of the other events can occur at the same time. |
mutually exclusive |
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If an experiment has a set of events that includes every possible outcome, then the set of events is described as ___________. |
exhaustive |
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If two events A and B are _____________, the special rule of addition states that the probability of one or the other events occurring equals the sum of their probabilities. |
mutually exclusive |
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The _____________ is used to determine the probability of an event occurring by subtracting the probability of the event not occurring from 1. |
complement rule |
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A probability that measures the likelihood two or more events will happen concurrently is called a ____________. |
joint probability |
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The special rule of multiplication requires that two events A and B are ___________. |
independent |
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Using the ________ viewpoint, an individual evaluates the available opinions and information and then estimates or assigns the probability. |
subjective |
