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MSIS 3223 - EXAM 2 Questions & Answers(RATED A+)

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  • MSIS 3223 - E
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  • MSIS 3223 - E

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 - ANSWERA...

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  • November 2, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MSIS 3223 - E
  • MSIS 3223 - E
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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

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