Term
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Definition
| A random variable with a finite/countable number of possible outcomes. |
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Term
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Definition
| A random variable that has an uncountable number of possible outcomes. |
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Term
| Discrete probability distribution |
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Definition
| Lists each possible value the random variable can assume together with its probability. It has 2 conditions: 1. The variable is between 0 and 1; and 2. the sum of all probabilities is 1. |
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Term
| Mean of a discrete random variable |
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Definition
| Each value of x is multiplied by its corresponding probability and the products are added. |
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Term
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Definition
| A probability experiment that has the following conditions:1) it is repeated a fixed number of times; 2) there are 2 possible outcomes, success (s) or failure (f); 3) the probability for success is the same for each trial;the random variable x counts the number of successful trials. |
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Term
| Continuous random variable |
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Definition
| It has an infinite number of possible values that can be represented by an interval on the number line. |
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Term
| Continuous probability distribution |
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Definition
| Probability distribution of a continuous random variable. |
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Term
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Definition
| A continuous probability distribution for a random variable x. It can be used to model many sets of measurements in nature, industry, and business. Its graph is called a Normal Curve. |
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Term
| Normal distribution properties |
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Definition
| 1) The mean, median, & mode are equal; 2) the normal curve is bell-shaped and is symmetric about the mean; 3)the total area under the curve is equal to 1; 4) the curve approaches but never touches the x-axis. It can have any mean and positive standard deviation. |
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Term
| standard normal distribution |
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Definition
| A normal distribution with a mean of 0 and a standard deviation of 1. The horizontal scale of the graph corresponds to z-scores. |
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