Stats

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Probability

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measure of the likelihood that a given event will occur, expressed as a number between 0 and 1

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Event

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is any collection of results or outcomes of a procedure

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Relative Frequency Approximation of Probability

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conduct or observe a procedure, and count the number of times that even A actually occurs.

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Classical Approach to Probability

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assume a given procedure has "n" different simple events and each has an equal chance of occurring

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Subjective Probabilities

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P(A), the probability of even A, is estimated by using knowledge of the relevant circumstances.

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Law of large numbers

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As procedure is repeated again and again, the relative frequency probability of an even tends to approach the actual probability

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Complement

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is of the Event A, denoted by (line over A), consists of all outcomes in which event A does not occur.

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Disjoint (Mutually Exclusive)

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Events A and B are disjoint if they cannot occur at the same time ( do not overlap)

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P(A|B)

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represents the probability of event B occurring after it is assumed that event A has already occurred.

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Independent

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2 events, A and b, are independent if the occurrence of one does not affect the probability of the occurrence of the other.

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Dependent

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2 events are dependent if the occurrence of one affects the probability of the occurrence of the other but doesn't mean that one is the cause of the other

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Binomial probability distribution
#1

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The procedure has a fixed number of trials

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Binomial probability distribution
#2

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The trials must be independent

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Binomial probability distribution
#3

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Each trial must have all outcomes classified into two categories: Success and Failure.

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Binomial probability distribution
#4

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The probability of a success remains the same in all trials.