MSIS 3223 Exam 2 Review (updated)
questions well answered
classical definition of probability - correct answer ✔✔If the process that generates the outcome
is known, probabilities can be deduced from theoretical arguments, this is the ______
Relative Frequency - correct answer ✔✔based on empirical data. The probability that an
outcome will occur is simply the relative frequency associated with that outcome.
subjective definition of probability - correct answer ✔✔based on judgment and experience as
sports experts might predict at the start of the football season—what is the probability of a
specific team winning the national championship?
Random Variable - correct answer ✔✔a numerical description of the outcome of an experiment
discrete random variable - correct answer ✔✔when the number of possible outcomes can be
counted
continuous random variable - correct answer ✔✔has outcomes over one or more continuous
intervals or real numbers
The ____ of a random variable corresponds to the notion of the mean or average for a sample -
correct answer ✔✔expected value
Joint Probability - correct answer ✔✔the probability of the intersection of two events
Conditional Probability - correct answer ✔✔the probability that one event happens given that
another event is already known to have happened
, How is the variance of a discrete random variable computed? - correct answer ✔✔as a
weighted average of the squared deviations from the expected value
What does high variance mean in a random variable - correct answer ✔✔high uncertainty of
the outcome
Bernoulli Distribution - correct answer ✔✔The probability distribution of a random variable
with two possible outcomes, each with a constant probability of occurrence.
Poisson distribution - correct answer ✔✔a discrete probability distribution describing the
likelihood of a particular number of independent events within a particular interval
Normal Distribution - correct answer ✔✔a bell-shaped curve, describing the spread of a
characteristic throughout a population
When does mean=median=mode? - correct answer ✔✔For normally distributed data
What is the range of X in a normal distribution? - correct answer ✔✔it is unbounded, meaning
that the tails of the distribution extend to negative and positive infinity.
The empirical rules apply exactly for _______ - correct answer ✔✔Normal Distribution
Probability density functions - correct answer ✔✔The distribution that characterizes outcomes
of a continuous random variable.
Properties of Probability Density Functions: - correct answer ✔✔• A graph of the density
function must lie at or above the x-axis.
• The total area under the density function above the x-axis is 1.
questions well answered
classical definition of probability - correct answer ✔✔If the process that generates the outcome
is known, probabilities can be deduced from theoretical arguments, this is the ______
Relative Frequency - correct answer ✔✔based on empirical data. The probability that an
outcome will occur is simply the relative frequency associated with that outcome.
subjective definition of probability - correct answer ✔✔based on judgment and experience as
sports experts might predict at the start of the football season—what is the probability of a
specific team winning the national championship?
Random Variable - correct answer ✔✔a numerical description of the outcome of an experiment
discrete random variable - correct answer ✔✔when the number of possible outcomes can be
counted
continuous random variable - correct answer ✔✔has outcomes over one or more continuous
intervals or real numbers
The ____ of a random variable corresponds to the notion of the mean or average for a sample -
correct answer ✔✔expected value
Joint Probability - correct answer ✔✔the probability of the intersection of two events
Conditional Probability - correct answer ✔✔the probability that one event happens given that
another event is already known to have happened
, How is the variance of a discrete random variable computed? - correct answer ✔✔as a
weighted average of the squared deviations from the expected value
What does high variance mean in a random variable - correct answer ✔✔high uncertainty of
the outcome
Bernoulli Distribution - correct answer ✔✔The probability distribution of a random variable
with two possible outcomes, each with a constant probability of occurrence.
Poisson distribution - correct answer ✔✔a discrete probability distribution describing the
likelihood of a particular number of independent events within a particular interval
Normal Distribution - correct answer ✔✔a bell-shaped curve, describing the spread of a
characteristic throughout a population
When does mean=median=mode? - correct answer ✔✔For normally distributed data
What is the range of X in a normal distribution? - correct answer ✔✔it is unbounded, meaning
that the tails of the distribution extend to negative and positive infinity.
The empirical rules apply exactly for _______ - correct answer ✔✔Normal Distribution
Probability density functions - correct answer ✔✔The distribution that characterizes outcomes
of a continuous random variable.
Properties of Probability Density Functions: - correct answer ✔✔• A graph of the density
function must lie at or above the x-axis.
• The total area under the density function above the x-axis is 1.
