Bsns102 - Binomial And Poisson

Front 1

What are the two types of Discrete Probability Distributions?

Back 1

- Binomial
- Poisson

Front 2

What are the two types of Continuous Probability Distributions?

Back 2

- Normal (Gaussian)
- Others (t, F, Chi-Square)

Front 3

Binomial

Back 3

Discrete probability

Front 4

Which four characteristics define a Binomial distribution?

Back 4

- Fixed number of trials (n)
- Two possible outcomes; "success" or "failure"
- P is constant; Probability of success (p) is the same for each trial
- Trials are independent; outcome of one trial does not affect outcome of another trial

Front 5

What is each Binomial trial known as?

Back 5

Bernoulli trial

Front 6

What is the random variable in a binomial distribution and what is it called?

Back 6

- total number of successes out of 'n' trials
- Called the binomial random variable

Front 7

What is the Binomial Probability Distribution?

Back 7

- List of probabilities
- Lists the probabilities that a success will occur x times in 'n' trials for each possible value of x

Front 8

What are the ways of obtaining values from the binomial distribution?

Back 8

- Tables
- Binomial Formula
- Calculator
- Excel
- Internet calculator
- Normal approximation when n is large

Front 9

Using table to find Binomial Distribution

Back 9

- Find table with right number of trials (n)
- Find column with same probability (p)

Front 10

When is a binomial distribution symmetric?

Back 10

when p = 0.5

Front 11

What does it mean in a binomial distribution when p = 0.5?

Back 11

The binomial distribution is symmetric

Front 12

Mean (Binomial)

Back 12

E (X) = np

Front 13

Variance (Binomial)

Back 13

V (X) = npq

Front 14

Standard Deviation (Binomial)

Back 14

SD = square root of npq

Front 15

What is q?

Back 15

1 - p; probability of failure

Front 16

Poisson

Back 16

Discrete Probability

Front 17

Which four characteristics define a Poisson distribution?

Back 17

- Trials are independent (number of successes that occur in an interval is independent of number of successes in any other interval) and random
- P is constant; probability of success is the same for all equal size intervals
- Probability of success in an interval is proportional to the size of the interval
- Probability of more than one success in an interval approaches zero as the interval size approaches zero

Front 18

Poisson random variable

Back 18

- Measures the number of success in an interval (time, length, area)
- Number of occurrences of a relatively rare event that occurs randomly and independently

Front 19

What must you remember about the given average and the time interval?

Back 19

Adjust the given average for the time interval if needed

Front 20

Binomial Summary

Back 20

Gives us the probability that a success will occur x times in 'n' trials

Front 21

Poisson Summary

Back 21

Number of occurrences of a relatively rare event that occurs randomly and independently