MSIS 3223 EXAM 2 CERTIFICATION
EVALUATION TESTED QUESTIONS AND
VERIFIED SOLUTIONS GRADED A+
●● What is a random variable?
Answer: Numerical description of experiment outcome
●● What is the difference between a discrete and continuous random
variable?
Answer: Discrete: countable outcomes, continuous: outcomes over
intervals
●● What is the expected value of a random variable?
Answer: Corresponds to mean or average for a sample
●● How do you find joint probabilities?
Answer: Multiply the probabilities of the two events
●● How do you find conditional probabilities?
Answer: Divide the joint probability by the probability of the given
event
, ●● How do you identify that two events are independent?
Answer: If the occurrence of one event does not affect the probability of
the other event
●● What is the classical definition of probability?
Answer: Probabilities deduced from theoretical arguments
●● What is the relative frequency definition of probability?
Answer: Probabilities based on empirical data
●● What is the subjective definition of probability?
Answer: Probabilities based on judgment and experience
●● What is the range of probabilities?
Answer: Between 0 and 1
●● What is the expected value helpful for?
Answer: Making a variety of decisions
●● What is the expected value equivalent to?
Answer: Mean or average for a sample
EVALUATION TESTED QUESTIONS AND
VERIFIED SOLUTIONS GRADED A+
●● What is a random variable?
Answer: Numerical description of experiment outcome
●● What is the difference between a discrete and continuous random
variable?
Answer: Discrete: countable outcomes, continuous: outcomes over
intervals
●● What is the expected value of a random variable?
Answer: Corresponds to mean or average for a sample
●● How do you find joint probabilities?
Answer: Multiply the probabilities of the two events
●● How do you find conditional probabilities?
Answer: Divide the joint probability by the probability of the given
event
, ●● How do you identify that two events are independent?
Answer: If the occurrence of one event does not affect the probability of
the other event
●● What is the classical definition of probability?
Answer: Probabilities deduced from theoretical arguments
●● What is the relative frequency definition of probability?
Answer: Probabilities based on empirical data
●● What is the subjective definition of probability?
Answer: Probabilities based on judgment and experience
●● What is the range of probabilities?
Answer: Between 0 and 1
●● What is the expected value helpful for?
Answer: Making a variety of decisions
●● What is the expected value equivalent to?
Answer: Mean or average for a sample
