Statistics

Statistics

1. Probability Rules

   • Rule 1: 0 ≤ P(A) ≤ 1
   • Rule 2: P(S) = 1
   • Rule 3 (Addition Rule for Disjoint Events): P(A or B) = P(A) + P(B)
   • Rule 4 (Complement Rule): P(A^c) = 1 - P(A)
   • Equally Likely Outcomes: count of outcomes in A / count of outcomes in S -> count of outcomes in A / k
   • Rule 5 (Multiplication Rule for Independent Events): P(A and B) = P(A) x P(B)
   • Z-Scores: to standardize data
     • z= (sample mean - population mean)/sd
   • Conditional Probability
     • P(B given A)= P(A and B)/P(A)
     • P(A and B) = P(A) x P(B given A)

2. Central Limit Theorem: as sample size increases, the distribution of sample means begins to look more Normal

   • x bar approx N [mu, (sd/root n)]
   • Binomial Distribution
     • Fixed # of observations, observations are independent, fall into two categories
     • Poisson Distribution
       • open-ended observations in a fixed period of time

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