In: Statistics and Probability
- What is the difference between the Relative Frequency Approximation of Probability and the Classical Approach to Probability? What happens when a procedure is repeated again and again?
- The probability of a certain event can't be greater than 1 or less than zero. Why not?
- What is a compound event? Describe the difference between P(A or B) and P(A and B)?
- What is a complementary event? What is the sum of the probability of A and the probability of the complement of A?
- What is a random variable and what is a probability
distribution? Describe the difference between continuous random
variables and discrete random variables? Provide an example of
each.
- What are the main parameters of a probability distribution?
- How we can use the mean and the standard deviation to calculate the maximum and minimum significant values?
- Recall the definition of a complementary event, and explain your understanding of a binomial probability distribution.
- What is the formula used to calculate the probability of a single event in binomial probability distribution?
- For binomial distributions, there are 3 very simple formulas used to calculate the mean, variance and standard deviation. List these 3 formulas.
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