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Cards In This Set
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Probability
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Is a measure of the likelihood of a random phenomenon or chance behavior
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Outcome
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Results that will occur in situations with short-term uncertainty.
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Law of Large Numbers
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As the number of repetitions of a probabiltiy experiment increases, the proportion with which a certain outcome is
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Law of Large Numbers cont.
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Observed gets closer to the probability of the outcome.
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Experiment (In probability)
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Is any process w/uncertain results that can be repeated.
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Sample space, S,
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Is the collection of all possible outcomes in a probability experiment.
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Event
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Is any collection of outcomes from a probability experiment. An event may consist of one outcome or more than one.
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Event cont.
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We will denote events with one outcome, sometimes called simple events, e . In general, Events denoted using "E"
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Fair die
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Is one in which each possible outcome is equally likely.
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Loaded die
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Is one in which a certain outcome is more likely.
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Probability Model
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List the possible outcomes of a probablity experiment & each outcome's probability.
Satisfies rules 1 & 2 of rule of probabilities.
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Impossible
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Is when the probability of the event is 0.
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Certainty
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Is when the probability of the event is 1.
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Unusual Event
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Is an event that has a low probability of occurring.
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Cutoff point
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Is an event that typically has a probability less than 5%
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