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9 Cards in this Set

  • Front
  • Back
Random variable
variable whose values are determined by chance
Discrete probability distribution
consists of the values a random variable can assume and the corresponding probabilities of the values; determined theoretically or by observation
two requirements of probability distribution
the sum of the probabilities equal one, probability of each event must be equal to 0 and 1
Formula for the mean of a probability distribution
sum of X*P(X)
Formula for the variance of a probability distribution
multiply the square of each outcome by its probability, summing these products, and subtracting the square of the mean
Expected value
theoretical average of the variable; theoretical mean of the probability distribution
formula for expected value
E(X)= sum of X*P(X)
binomial experiment
probability experiment, there must be a fixed number of trials, each trial can have only two outcome or reduced to two, outcomes of each trial must be independent of each other, probability of success remains the same for each trial
binomial distribution
the outcomes of a binomial experiment and the corresponding probabilities of these outcomes