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9 Cards in this Set
- Front
- Back
Random variable
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variable whose values are determined by chance
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Discrete probability distribution
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consists of the values a random variable can assume and the corresponding probabilities of the values; determined theoretically or by observation
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two requirements of probability distribution
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the sum of the probabilities equal one, probability of each event must be equal to 0 and 1
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Formula for the mean of a probability distribution
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sum of X*P(X)
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Formula for the variance of a probability distribution
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multiply the square of each outcome by its probability, summing these products, and subtracting the square of the mean
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Expected value
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theoretical average of the variable; theoretical mean of the probability distribution
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formula for expected value
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E(X)= sum of X*P(X)
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binomial experiment
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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
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binomial distribution
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the outcomes of a binomial experiment and the corresponding probabilities of these outcomes
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