MSIS 3223 - EXAM 2 Questions &
Answers(RATED A+)
Probability - ANSWERThe likelihood that an outcome occurs
Experiment - ANSWERThe process that results in an outcome
Outcome - ANSWERResult of an experiment that can be observed
Sample space - ANSWERThe collection of all possible outcomes of an experiment
Complement of an event - ANSWERAll possible outcomes that are not in the event
Union of events - ANSWERIf the notation (A and B) represents the intersection of events A and B, the
collection of all outcomes that belong to either A or B or to both A and B
Non-mutually exclusive events - ANSWERIf the notation (A and B) represents the intersection of
events A and B, the collection of all events that belong to both A and B
Event - ANSWERA collection of one or more outcomes from a sample space
Combinations - ANSWERUnique outcomes that must be counted when order does not matter
Permutations - ANSWERThe outcomes that are counted when order does matter
Classical definition of probability - ANSWERIf the process that generates the outcome is known,
probabilities can be deduced from theoretical arguments
Relative frequency definition of probability - ANSWERProbabilities are based on empirical data; the
probability is simply the relative frequency associated with that outcome
, Subjective definition of probability - ANSWERProbabilities are based on judgment and experience
Joint probability - ANSWERThe probability of the intersection of two events
Marginal probability - ANSWERThe probability of an event irrespective of the outcome of the other
joint event
Discrete distributions - ANSWERProbability distribution of the discrete outcomes of a discrete
random variable
Cumulative distribution function - ANSWERA function that specifies the probability that a random
variable is less than or equal to a specified value
Expected value - ANSWERThe average of each possible outcome of a future event, weighted by its
probability of occurring
Conditional probability - ANSWERThe probability of occurrence of one event A, given that another
event B is known to be true or has already occurred
Independent events - ANSWERTwo or more events in which the outcome of one event does not
affect the outcome of the other event(s)
Random variable - ANSWERA numerical description of the outcome of an experiment
Discrete random variable - ANSWERVariable where the number of outcomes can be counted and
each outcome has a measurable and positive probability
Continuous random variable - ANSWERA random variable that may have outcomes over one or more
continuous intervals or real numbers
Probability distribution - ANSWERA characterization of the possible values that a random variable
may assume along with the probability of assuming these values
Answers(RATED A+)
Probability - ANSWERThe likelihood that an outcome occurs
Experiment - ANSWERThe process that results in an outcome
Outcome - ANSWERResult of an experiment that can be observed
Sample space - ANSWERThe collection of all possible outcomes of an experiment
Complement of an event - ANSWERAll possible outcomes that are not in the event
Union of events - ANSWERIf the notation (A and B) represents the intersection of events A and B, the
collection of all outcomes that belong to either A or B or to both A and B
Non-mutually exclusive events - ANSWERIf the notation (A and B) represents the intersection of
events A and B, the collection of all events that belong to both A and B
Event - ANSWERA collection of one or more outcomes from a sample space
Combinations - ANSWERUnique outcomes that must be counted when order does not matter
Permutations - ANSWERThe outcomes that are counted when order does matter
Classical definition of probability - ANSWERIf the process that generates the outcome is known,
probabilities can be deduced from theoretical arguments
Relative frequency definition of probability - ANSWERProbabilities are based on empirical data; the
probability is simply the relative frequency associated with that outcome
, Subjective definition of probability - ANSWERProbabilities are based on judgment and experience
Joint probability - ANSWERThe probability of the intersection of two events
Marginal probability - ANSWERThe probability of an event irrespective of the outcome of the other
joint event
Discrete distributions - ANSWERProbability distribution of the discrete outcomes of a discrete
random variable
Cumulative distribution function - ANSWERA function that specifies the probability that a random
variable is less than or equal to a specified value
Expected value - ANSWERThe average of each possible outcome of a future event, weighted by its
probability of occurring
Conditional probability - ANSWERThe probability of occurrence of one event A, given that another
event B is known to be true or has already occurred
Independent events - ANSWERTwo or more events in which the outcome of one event does not
affect the outcome of the other event(s)
Random variable - ANSWERA numerical description of the outcome of an experiment
Discrete random variable - ANSWERVariable where the number of outcomes can be counted and
each outcome has a measurable and positive probability
Continuous random variable - ANSWERA random variable that may have outcomes over one or more
continuous intervals or real numbers
Probability distribution - ANSWERA characterization of the possible values that a random variable
may assume along with the probability of assuming these values
