stats 5.1-5.4

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created 7 years ago by rredmo01
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1

probability experiment

any process with uncertain results that can be repeated

2

probability

a measure of likelihood of a random phenomenon or chance behavior . it is the proportion of time a random experiment results in a particular outcome if repeated many times over a long time

3

the law of large numbers

as the number of repetitions of a probability experiment increases, the proportion of obtaining an outcome gets closer to probability of that outcome

4

sample space

the collection of all possible outcomes

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unusual event

an event that has a low probability of occurring (<0.05)

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conditional probability

probability of even A occurring if we know that B occurred

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classical method

based on an assumption about the world where we assume that all outcomes in the sample space S are equally likely

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empirical method

based on collecting sample data using statistical methods. such probabilities will differ from sample to sample

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subjective method

based on personal, educated guess; even if the experiment cannot happen again

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independent

if occurrence of the events does not change the probability of occurrence of the other event. it is irrelevant to the occurrence of the other