QMB-210 Lecture Notes - Lecture 14: Mutual Exclusivity, Random Variable, Binomial Distribution

• School: University of Tampa
• Department: Quantitative Methods in Business
• Course: QMB-210
• Professor: Shaista Nisar

Document Summary

Chapter 5: values are whole numbers (integers, usually counted, not measured, number of complaints per day, number of tvs in a household, number of rings before the phone is answered. Discrete random variables: discrete random variables have outcomes that typically take on whole numbers as a result of conducting an experiment. Welsh 2: continuous random variables have outcomes that take on any numerical value as a result of conducting an experiment. How many data values can be found in a specific interval: discrete random variables, a finite number of values, continuous random variables, an infinite number of outcomes. A discrete probability distribution is: a listing of all the possible outcomes of an experiment for a discrete random variable, along with the relative frequency of each outcome. 5. 2: calculate the mean of this distribution: It is either or mutually exclusive: e. g. You either win or you lose: e. g.