Chapter 5 (Basic Principles of Probability) Exam Questions and Answers.

Chapter 5 (Basic Principles of Probability) Exam Questions and Answers Addition Rule 1 of probability - Correct Answers: when Event A and Event B are mutually exclusive, the probability of either Event A or Event B happening is the sum of probabilities of each event; P(A or B) = P(A)+P(B) Addition Rule 2 of probability - Correct Answers: when Event A and Event B aren't mutually exclusive, the probability of either Event A or Event B, or both, happening is the sum of the probabilities of each event minus the overlapping part of the two events; P(A or B) = P(AUB) = P(A)+P(B)-P(AUB) binomial probability distribution - Correct Answers: probability distribution applying to variables with only two possible outcomes in each trial; trials are independent of one another; probability of success and failure remain the same in all trials disjoint events - Correct Answers: the same as mutually exclusive events event - Correct Answers: a set of outcomes from an experiment or a procedure independent events - Correct Answers: when the occurrence of one event doesn't affect the probability of the occurrence of another event multiplication rule for independent events - Correct Answers: P(AB) = P(A) x P(B) mutually exclusive events - Correct Answers: when Event A and Event B are mutually exclusive, it means that only one of the events can happen; if one happens, the other doesn't probability density function - Correct Answers: describes the probability for a continuous, random variable to be in a given range of values 3 requirements for a probability distribution - Correct Answers: 1. X is a discrete, random, and numerical; number of possible values of X is finite; each value is associated with a probability 2. the probability of each value needs to be within 0 and 1, inclusive; expressed as 0≤P(X)≤1 3. sum of probabilities of all the values equals 1; expressed as Σ P(X)=1 sample space - Correct Answers: a complete list of all possible outcomes simple event - Correct Answers: an elementary event that cannot be broken into simpler parts