Probability Questions & Answers

Probability Questions & Answers Average - ANSWER: The sum of a set of elements divided by the number of elements in the set; also called the Mean or Weighted Average. Bernoulli Trial - ANSWER: Another name for a trial in a binomial experiment. Binomial Distribution - ANSWER: "A statistical distribution giving the probability of obtaining a specific number of successes in a binomial experiment" (Borwein, Watters, & Borowski, 1997). Binomial Experiment - ANSWER: An experiment that has a fixed number of independent trials; each trial has 2 possible outcomes (success and failure) and the probability for success is the same for each trial. Certain Event - ANSWER: An event that must occur; it has a probability of 1. Combination - ANSWER: A group of elements from a set in which the order of the elements is not important. Complementary Events - ANSWER: Two events from the same sample space whose probabilities add up to 1. Complementary Probabilities - ANSWER: The probability of an outcome occurring and the probability that the same outcome will not occur. Compound Event - ANSWER: An event that consists of two, or more, simple events; for example: A or B; A and B and C. Compound Probability - ANSWER: The likelihood that a compound event will occur; for example: P(A or B); P(A and B and C). Conditional Probability - ANSWER: The likelihood that an event will occur given that another event has already occurred; for example: P(A|B) = P(A) given that B has already occurred...