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9 Cards in this Set
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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
