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- 1Normal Distribution ruleZ=(X-μ)/σ
- 2Mean of a Binomial distribution:-μ=n .π
- 3Poisson distribution ruleP(x)= (μ^x . e^(-μ))/x!
- 4Variance of a Binomial distributionσ^2=n .π .(1- π)
- 5Binomial probability formulaP(x)= nCx . π^X . (1- π)^(n-x)
- 6Mean of a probability distributionμ=E(x)= ∑▒x .P(x)
- 7Variance of a probability distributionσ^2=E(x^2 )- 〖[E(x)]〗^2
- 8Bayes' TheoremP(Ai∕B)=(P(Ai) P(B⁄Ai)) /(∑▒〖P(Ai) P(B⁄Ai)〗)
- 9General Rule of Multiplication:-P(A∕B)= (P(A and B))
/(P(B)) - 10Special Rule of Multiplication:-P(A and B)= P(A)*P(B)
- 11General Rule of AdditionP(A or B)=P(A)+ P(B)- P(A and B)
- 12ProbabilityP=(The number of Possible casses)
/(Total number of casses) - 13probability Def?measure of the likelihood that an event in the future will happen. It it can only assume a value between 0 and 1.
- 143 ways of assigning probability?classical,
empirical, and
subjective. - 15experimentobservation of some activity or the act of taking some measurement.
- 16outcomeparticular result of an experiment.
- 17eventcollection of one or more outcomes of an experiment
- 18Mutually exclusive eventsoccurrence of any one event means that none of the others can occur at the same time.
- 19independent eventoccurrence of one event does not affect the occurrence of another.
- 20Collectively Exhaustive Eventsat least one of the events must occur when an experiment is conducted.
- 21Empirical Probabilityprob. of event happening is fraction of time similar events happened
- 22Subjective Probabilityliklehood of an event happening assigned by individual on whatever info
- 23Summary
- 24complement ruleP(A) + P(~A) = 1
or P(A) = 1 - P(~A). - 25JOINT PROBABILITYprobability that measures the likelihood two or more events will happen concurrently.
- 26probability distirbutionall the outcomes of experiment and probs. associated with each outcome
- 27discrete random variablecounting something
- 28continuous random variablemeasurment
- 29Hypergeometric Distribution features2 possible outcomes
prob. of success isnt the same in each trial
result from counting success in fixed no# of trials - 30Poisson prob. def.describes the number of times some event occurs during a specified interval. The interval may be time, distance, area, or volume.
- 31Index numbersmeasures relative change in quantity value price of an item from a period of time to another
- 32ways to determine the index?weighted index
unweighted index
fisher's price index
value index
special purpose index - 33Statistics?collecting, organizing, presenting, analyzing, and interpreting numerical data to assist in making more effective decisions.
- 34types of statistics?Descriptive
inferential - 35—