• Shuffle
Toggle On
Toggle Off
• Alphabetize
Toggle On
Toggle Off
• Front First
Toggle On
Toggle Off
• Both Sides
Toggle On
Toggle Off
Toggle On
Toggle Off
Front

### How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

Play button

Play button

Progress

1/38

Click to flip

### 38 Cards in this Set

• Front
• Back
 What determines the location and shape of the normal probability distribution? Two parameters: 1) mean (location) 2) standard deviation (shape) What is the probability of any particular value for a continuous random variable? 0 What is the highest point on the normal probability distribution curve? The mean, which is also the median and the mode. What random variable can take on any value in a range? Continuous random variable What are the 4 discrete probability distributions most commonly used in business applications? 1) Discrete uniform 2) Binomial 3) Poisson 4) Hypergeometric What determines the spread or width of the normal probability distribution? The standard deviation A numerical description of the outcome of an experiment: Random variable What is the area under the normal probability distribution curve? 1.0 Graphical respresentation of how probabilities are allocated to potential values of a random variable: Probability distribution curve Probability and height are the same for what kind of variables? Discrete random variables A numerical description of the outcome of an experiment that can yield only a finite number of values or an infinite sequence such as 0, 1, 2,...: Discrete random variable Continuous probability distribution in which all potential values of a random variable X are equally likely: Continuous uniform (ex: ) Description of how probabilities are allocated to potential values of a random variable: Probability distribution Discrete probability distribution in which all potential values of a random variable X are equally likely: Discrete uniform (ex: lottery) Mathematical expression for assigning probabilities to potential values of a random variable: Probability distribution function A numerical description of the outcome of an experiment whose outcome can assume any numerical value in an interval or collection of intervals: Continuous random variable The probability distribution associated with any normal random variable that has a mean of 0 and a standard deviation of 1: Standard Normal Probability Distribution The means by which any normal random variable with a mean of 0 and a standard deviation of 1 and can be converted into a standard normal random variable: z-Transformation A numerical description of the outcome of an experiment: Random Variable Discrete probability distribution that describes the probability of a given number of occurrences of some relatively rare event over time or space: Poisson List 4 discrete probability distributions: 1. Discrete Uniform 2. Binomial 3. Poisson 4. Hypergeometric The product of every value of random variable X and the corresponding value of f(x) over all possible values of X: Expected Value of a Random variable Continuous probability distribution that describes the probability A GIVEN AMOUNT OF TIME will pass b/t consecutive occurrences of some relatively rare (Poisson) event: Exponential Discrete probability distribution in which all potential values of random variable X are equally likely: Discrete Uniform Continuous probability distribution that describes the likelihoods of outcomes for a random variable X with a particular symmetric and unimodal distribution: Normal A numerical description of the outcome of an experiment that can yield only a finite number of values or an infinite sequence such as 0, 1, 2, ....: Discrete Random Variable The description of how probabilities are allocated to potential values of a random variable: Probability Distribution Discrete probability distribution that describes the probability of a given number of successes (the random variable X) over n identical and independent trials where the probability of success p is constant across trials for an infinite population: Binomial Continuous probability distribution in which all potential values of random variable X are equally likely: (Continuous) Uniform Discrete probability distribution that describes the probability of a given number of successes (the random variable X) over n identical and independent trials where the probability of success p is constant across trials for a finite population of N elements with r successes: Hypergeometric A numerical description of the outcome of an experiment whose outcome can assume any numerical value in an interval or collection of intervals: Continuous Random Variable Which discrete probability distribution should you use if all outcomes are equally likely? Discrete Uniform Distribution The product of the squared difference b/t every value of random variable X & the mean of X & the corresponding value of f(x) over all possible values of X: Variance of a Random variable Which continuous probability distribution should you use if you are measuring the time b/t occurrences of a relatively rare (Poisson) event? Exponential Distribution Classify the following random variables as discrete or continuous: The length of time you stay in a class. Continuous Which probability disttribution would best describe the number of cars passing the freeway in a 5 minute interval? Poisson (discrete) Which continuous probability should you use if all outcomes are equally likely? (Continuous) Uniform Distribution Graphical representation of how probabilities are allocated to potential values of a random variable where f(x) represents the height of the curve (on the y-axis) at the corresponding value of the random variable: Probability distribution curve