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25 Cards in this Set
- Front
- Back
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addition rule
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P(A or B) = P(A) + P(B) - P(A and B)
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addition rule for mutually exclusive events
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P(A or B) = P(A) + P(B)
for mutually exclusive events |
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classical approach
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attempts to deduce the probability of an outcome from the nature of the experiment
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complement of an event
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the set of all outcomes not in the event
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complement rule
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the probability of an event equals one minus the probability of its complement
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conditional probability
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the probability an event will occur, given that another has occurred
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dependent events
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ones in which the occurrence of one affects the probability the other will occur
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event
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a set of one or more simple events
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exhaustive list of events
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covers all possible outcomes
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independent events
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ones in which the occurrence of one does not affect the probability the other will occur
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multiplication rule for independent events
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P(A and B) = P(A) × P(B)
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mutually exclusive events
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cannot occur at the same time
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node
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a point of the tree from which alternative outcomes can occur
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origin
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the initial node of the experiment
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posterior probability
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the probability of an event given the occurrence of another event
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prior probability
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the initial presumed probability of an event
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probability of a simple event
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likelihood of the simple event occurring
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probability of an event
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sum of the probabilities of the simple events in the event
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probability tree
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a depiction of events as branches of a tree
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random experiment
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a process that results in one of a number of possible different outcomes
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reduced sample space
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the sample space, given that a particular event has occurred
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relative frequency approach
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expresses the probability of an outcome as the relative frequency of its occurrence based on past experience
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sample space
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the set of all possible simple events
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simple event
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one of the individual outcomes of an experiment
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subjective approach
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assigns probability to an event based on personal judgment
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