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Definition
o The act of gathering data through observation |
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o The result of an experiment |
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Definition
o The collection of all possible outcomes of an experiment |
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Definition
o The likelihood that an outcome occurs
o Two basic governing facts:
§ Probability associated with an outcome must be between 0 and 1
§ The sum of the probabilities over all possible outcomes must be 1.0 |
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Definition
o A collection one or more outcomes from a sample space |
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o Both cannot occur that the same time |
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o Numerical description of the outcome of an experiment
Function that assigns a real number toe each element of sample space |
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· Discrete random variable |
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Definition
o The number of possible outcomes can be counted |
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· Continuous random variable |
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Definition
o Outcomes over a continuous range of real numbers |
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· Probability distribution |
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Definition
o Characterization of the possible values that a random variable may assume along with the probability of assuming these values |
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· Empirical probability distribution |
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Definition
o An approximation of the probability distribution of the associated random variable
o A theoretical model of the random variable |
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· Probability mass function |
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Definition
o The probability distribution of the discrete outcomes |
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· Cumulative distribution function. F(x) |
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Definition
o Specifies the probability that the random variable X will assume a value less than, or equal to a specified value, x |
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· Probability density function |
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Definition
o Characterizes the outcomes of a continuous random variable |
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Definition
o Controls the basic shape of the distribution |
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Definition
o Controls the unit of measurement within the range of the distribution |
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Definition
o Specifies the location of the distribution relative to zero on the horizontal axis |
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Definition
o (of a random variable) corresponds to the notion of the mean, or average, for a sample |
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Definition
o Characterizes a random variable with two possible outcomes with constant probabilities of occurrence |
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Definition
o Models n independent replications of a Bernoulli experiment, each with a probability of p success |
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Definition
o A discrete distribution used to model the number of occurrences in some unite of measure
o Ex. The # of events occurring in an interval of time, # of items demanded per customer from an inventory |
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Definition
o Characterizes a continuous random variable for which all outcomes between some min value a and max value b are equally likely |
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· Discrete uniform distribution |
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Definition
o A variation of the uniform distribution
The random variable is restricted to be integer values between a and b (also integers) |
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Definition
o A continuous distribution
o Bell-shaped curve |
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· Standard normal distribution |
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Definition
o The normal distribution with m = 0 and s2 = 1 |
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· Triangular distribution |
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Definition
o Continuous distribution defined by 3 parameters: the min, a; max, b; and most likely, c. |
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· Exponential distribution |
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Definition
o Continuous distribution that models the time between randomly occurring events |
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Term
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Definition
| if the natural logarithm of a random variable X is normal, the X has a lognormal distribution |
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Definition
| a family of distribution defined by a shape parameter, scale paramter, and location parameter |
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Definition
| capable of taking on a number of different shapes defined ny a scale and shape parameter |
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Definition
over a fixed interval from 0 to a positive valua s is the beta
a function of 2 shape parameters (both positive) |
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Definition
| describes the number of trials until the first success where the probability of a succes is the same from trial to trial |
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| negative binomial distribution |
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Definition
| models the distribution of the # of trials unteril the rth success |
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| hypergeometric distribution |
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Definition
applies to sampling w/o replacement
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Definition
| commonly used to describe growth of a population over time |
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Definition
| describe the phenomena in which a small proportion of items accounts for a large proportion of some characteristics |
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| extreme value distribution |
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Definition
describes the largest value of responses over a period of tome
ec. rainfaill, earthquakes |
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| joint probability distribution |
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Definition
| specifies the outcome of two different variables that occur at the same time, or jointly |
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Definition
| represent the probability associated with the outcomes of each random variable regardless of the value of the other |
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Definition
| the probability of occurrence of one vent A, given that anohter event B is known to have occurred |
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| statistically independent |
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Definition
| one variable does not depend on thevalue of the other |
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Definition
| invlove sampling experiments whose purpose is to estimate the distribution of an outcome variable that depends on several input rando variables |
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Definition
| defined as one that is uniformly distributed b/t 0 and 1 |
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Definition
| a value ramdomly generated from a specified probability distribution |
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| sampling distribution of the mean |
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Definition
| the means of multiple samples of a fixed size n from some population will form a distribution |
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| Νstandard error of the mean |
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Definition
the standard deviation of the sampling distribution of the mean
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Term
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Definition
| states that if the sample size is large enough, the sampling distribution of the mean can be approximated by a normal distribution, regardless of the shape of teh population distribution |
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