Question

In: Statistics and Probability

1.The classical probability concept applies only when all possible outcomes are _________. 2.In general, if r...

1.The classical probability concept applies only when all possible outcomes are _________.

2.In general, if r objects are selected from a set of n objects, any particular arrangement (order) of these objects is called.____________ The number of ways in which r objects can be selected from a set of n distinct objects (in other words, that is when the order of objects doesn't matter) is called___________

3.The sum of the probability in the formula for the mathematical expectation is equal to ________

4.A fair game is defined to be in which:

the probabilities of all events are equal

the sum of all probabilities equals to 1

E = 1

E = 0

5.The mathematical expectation for a game is determined by multiplying each amount by its ________ and adding the products.

6. In a probability Tree Diagram such as that of Figure 41.1a on page 113 of the textbook, the branches representing the ------------ of a event.

possibilities

number of leaves

probability

7.The number of ways of choosing zero objects from a distinct object is ________

8.The probability of selecting a defective component from 20 components, 3 of which are defective is 3/20. This is an example of:

the classical probability concept

the frequency interpretation of probability

the law of large numbers

subjective probability

Solutions

Expert Solution

1.The classical probability concept applies only when all possible outcomes are equally likely

2)

In general, if r objects are selected from a set of n objects, any particular arrangement (order) of these objects is called._permutation_____ The number of ways in which r objects can be selected from a set of n distinct objects (in other words, that is when the order of objects doesn't matter) is called combination

3) The sum of the probability in the formula for the mathematical expectation is equal to 1

4)

E = 0

5) The mathematical expectation for a game is determined by multiplying each amount by its probability and adding the products.

6)

In a probability Tree Diagram such as that of Figure 41.1a on page 113 of the textbook, the branches representing the possibilities of a event

7)

The number of ways of choosing zero objects from a distinct object is 1

8) the frequency interpretation of probability


Related Solutions

Part 1. When a probability experiment only has two possible outcomes and you know the probability...
Part 1. When a probability experiment only has two possible outcomes and you know the probability of one outcome, you can find the probability of the other outcome by computing (the complementary probability, using the addition rule, using the multiplication rule) To find the probability of two (mutually exclusive, independent) events both occurring, you may simply multiply their individual probabilities. When two scenarios are (mutually exclusive, independent) , we can simply add their probabilities together to find the probability that...
Since {1, 2, . . . , 6} is the set of all possible outcomes of...
Since {1, 2, . . . , 6} is the set of all possible outcomes of a throw with a regular die, the set of all possible outcomes of a throw with two dice is Throws := {1, 2, . . . , 6} × {1, 2, . . . , 6}. We define eleven subsets P2, P3, . . . , P12 of Throws as follows: Pk := {<m, n>: m + n = k} for k ∈ {2,...
1.When probabilities are assigned based on the assumption that all the possible outcomes are equally likely,...
1.When probabilities are assigned based on the assumption that all the possible outcomes are equally likely, the method used to assign the probabilities is called the A.conditional method B.relative frequency method C.subjective method D.Venn diagram method E.classical method 2.You study the number of cups of coffee consumer per day by students and discover that it follows a discrete uniform probability distribution with possible values for x of 0, 1, 2 and 3. What is the standard deviation of the random...
1. When discussing the concept of risk, what type of outcomes are we considering (negative outcomes...
1. When discussing the concept of risk, what type of outcomes are we considering (negative outcomes or positive outcomes)?   (For example, would we talk about the risk of DYING from heart failure OR the risk of SURVIVING heart failure?) 2. If the risk of Outcome A is 154% compared to the risk of Outcome B, has the risk for Outcome A increased, decreased or stayed the same? 3. What decimal (e.g x.xx) would you use to express a risk of 67%?  Has...
Assume a random variable X with four possible outcomes {1,2,3,4}, each with the probability θ/2, θ/2,...
Assume a random variable X with four possible outcomes {1,2,3,4}, each with the probability θ/2, θ/2, (1-θ)/3, and (2-2θ)/3, respectively. We observe the following samples {1,1,1,2,2,3,3,4,4,4}. Derive the maximum likelihood estimate of θ.
Assume that the following probability distribution exists for automobile damages Possible Outcomes for Damages Probability $0...
Assume that the following probability distribution exists for automobile damages Possible Outcomes for Damages Probability $0 50% 600 30% 2,000 10% 7,000 6% 11,000 4% What is the expected value for damages? A. $12.40 B. $124 C. 1,240 D. 12,400 Can someone please explain how you got the answer. I'm stuck
What is the sum of the probabilities of all outcomes in a probability distribution? a. 0 b. 1/2 c. 1 d. It cannot be determined.
What is the sum of the probabilities of all outcomes in a probability distribution?a. 0b. 1/2c. 1d. It cannot be determined.
Keynes’s General Theory 1. When if ever, according to Keynes, will the theories of the classical...
Keynes’s General Theory 1. When if ever, according to Keynes, will the theories of the classical school of economics come into their own? 2. What did Keynes consider the most important argument (before he refuted it) for tolerating inequality of wealth? 3. Keynes thought it was better for someone to tyrannize over ____ rather than over his fellow man. 4. Why, according to Keynes, did insufficient demand lead to wars in the nineteenth and first part of the twentieth centuries?...
You are considering investing in a project with the following possible outcomes:      Probability of Investment States...
You are considering investing in a project with the following possible outcomes:      Probability of Investment States    Occurrence Returns State 1: Economic boom 20% 16% State 2: Economic growth       40% 12% State 3: Economic decline       20% 5% State 4: Depression        20% -5% Calculate the standard deviation of returns for this investment. Round to the nearset hundredth percent. Answer in the percent format. Do not include % sign in your answer (i.e. If your answer is 4.33%, type...
****URGENT****** 1A)  An event has four possible outcomes, A, B, C, and D. All of the outcomes...
****URGENT****** 1A)  An event has four possible outcomes, A, B, C, and D. All of the outcomes are disjoint. Given that P(Bc) = 0.2, P(A) = 0.1, and P(C) = 0.3, what is P(D)? 1B) A study was conducted on a potential association between drinking coffee and being diagnosed with clinical depression. All 18,832 subjects were female. The women were free of depression at the start of the study in 1996. Information was collected on coffee consumption and the incidence of...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT