Terms in this set (211)
Quiz____?
Common Factors -
Answer✓✓
Break down both numbers to their prime factors to see what factors they have in common.
Multiply all combinations of shared prime factors to find all common factors.
Quiz____?
Gross Profit -
Answer✓✓
Gross profit = Selling Price - Cost
Quiz____?
Combined Events -
Answer✓✓
For events E and F:
• not E = P(not E) = 1 - P(E)
1
, • E or F = P(E or F) = P(E) + P(F) - P(E and F)
• E and F = P(E and F) = P(E)P(F)
Quiz____?
Multiplication Principle -
Answer✓✓
The number of ways independent events can occur together can be determined by multiplying
together the number of possible outcomes for each event.
Quiz____?
1st Rule of Probability: Likelihood of A -
Answer✓✓
Basic rule: The probability of event A occurring is the number of outcomes that result in A
divided by the total number of possible outcomes.
Quiz____?
2nd Rule of Probability: Complementary events -
Answer✓✓
Complementary Events: The probability of an event occurring plus the probability of the event
not occurring = 1.
2
, P(E) = 1 - P(not E)
Quiz____?
3rd Rule of Probability: Conditional Probability -
Answer✓✓
Conditional Probability: The probability of event A AND event B occurring is the probability of
event A times the probability of event B, given that A has already occurred.
P(A and B) = P(A) × P(B|A)
Quiz____?
4th Rule of Probability: Probability of A OR B -
Answer✓✓
The probability of event A OR event B occurring is: the probability of event A occurring *plus*
the probability of event B occurring *minus* the probability of both
events occurring.
P(A or B) = P(A) + P(B) - P(A and B)
Quiz____?
Probability of Multiple Events -
Answer✓✓
3
, Rules:
• A *and* B < A *or* B
• A *or* B > Individual probabilities of A, B
• P(A and B) = P(A) x P(B) ← "fewer options"
• P(A or B) = P(A) + P(B) ← "more options"
Quiz____?
Indistinguishable Events (i.e., anagrams with repeating letters) -
Answer✓✓
To find the number of distinct permutations of a set of items with indistinguishable ("repeat")
items, divide the factorial of the items in the set by the product of the factorials of the number
of indistinguishable elements.
Example: How many ways can the letters in TRUST be arranged? (5!)/(2!) = 60
5! is the factorial of items in the set, 2! is the factorial of the number of repeat items ("T"s)
Quiz____?
Combinations (Order Does Not Matter) -
Answer✓✓
nCr = n! / (r! (n - r)!)
Where n is the total number of items in the set and r is the number of chosen items.
4
Quiz____?
Common Factors -
Answer✓✓
Break down both numbers to their prime factors to see what factors they have in common.
Multiply all combinations of shared prime factors to find all common factors.
Quiz____?
Gross Profit -
Answer✓✓
Gross profit = Selling Price - Cost
Quiz____?
Combined Events -
Answer✓✓
For events E and F:
• not E = P(not E) = 1 - P(E)
1
, • E or F = P(E or F) = P(E) + P(F) - P(E and F)
• E and F = P(E and F) = P(E)P(F)
Quiz____?
Multiplication Principle -
Answer✓✓
The number of ways independent events can occur together can be determined by multiplying
together the number of possible outcomes for each event.
Quiz____?
1st Rule of Probability: Likelihood of A -
Answer✓✓
Basic rule: The probability of event A occurring is the number of outcomes that result in A
divided by the total number of possible outcomes.
Quiz____?
2nd Rule of Probability: Complementary events -
Answer✓✓
Complementary Events: The probability of an event occurring plus the probability of the event
not occurring = 1.
2
, P(E) = 1 - P(not E)
Quiz____?
3rd Rule of Probability: Conditional Probability -
Answer✓✓
Conditional Probability: The probability of event A AND event B occurring is the probability of
event A times the probability of event B, given that A has already occurred.
P(A and B) = P(A) × P(B|A)
Quiz____?
4th Rule of Probability: Probability of A OR B -
Answer✓✓
The probability of event A OR event B occurring is: the probability of event A occurring *plus*
the probability of event B occurring *minus* the probability of both
events occurring.
P(A or B) = P(A) + P(B) - P(A and B)
Quiz____?
Probability of Multiple Events -
Answer✓✓
3
, Rules:
• A *and* B < A *or* B
• A *or* B > Individual probabilities of A, B
• P(A and B) = P(A) x P(B) ← "fewer options"
• P(A or B) = P(A) + P(B) ← "more options"
Quiz____?
Indistinguishable Events (i.e., anagrams with repeating letters) -
Answer✓✓
To find the number of distinct permutations of a set of items with indistinguishable ("repeat")
items, divide the factorial of the items in the set by the product of the factorials of the number
of indistinguishable elements.
Example: How many ways can the letters in TRUST be arranged? (5!)/(2!) = 60
5! is the factorial of items in the set, 2! is the factorial of the number of repeat items ("T"s)
Quiz____?
Combinations (Order Does Not Matter) -
Answer✓✓
nCr = n! / (r! (n - r)!)
Where n is the total number of items in the set and r is the number of chosen items.
4
