BUS 223 Lecture Notes - Lecture 2: Standard Deviation, Washing Machine, Binomial Distribution
25 Jun 2018
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PROBABILITY DISTRIBUTIONS
WORD LIST
1. Probability distribution
2. Random Variable
3. Discrete Random Variable
4. Continuous Random Variable
5. Binomial Probability Distribution
6. Discrete Probability Distribution
7. Continuous Probability Distribution
8. Normal Distribution ( Curve )
9. Z-score
10. Standard Normal Distribution ( Curve )
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PROBABILITY DISTRIBUTIONS
DISCRETE PROBABILITY DISTRIBUTIONS
A discrete probability experiment is an experiment that satisfies the following
properties:
1. There are a specific number of random variables that can be listed
2. A probability can be assigned or calculated for each outcome
3. The sum of all the probabilities of all the random variables must be equal to 1.0
4. The probability that a random variable assumes any one value in particular is between 0
and 1 inclusive
BINOMIAL PROBABILITY DISTRIBUTIONS
A binomial probability experiment is an experiment that satisfies the following
properties:
1. There is a fixed number, n, of repeated trials whose outcomes are independent.
2. Each trial results in one of two possible outcomes. We call one outcome a success and the
other outcome a failure.
3. The probability of success on a single trial equals p and remains the same from trial to
trial. The probability of a failure equals 1 - p.
P(success) = p P(failure) = 1 - p
CONTINUOUS PROBABILITY DISTRIBUTION
A continuous probability distribution is an experiment that satisfies the following
properties:
1. There are an infinite number of possible outcomes that cannot be listed
2. The sum of the probabilities that make up the distribution is equal to one
3. Individual outcomes can be assigned or calculated a probability of that particular event.
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Document Summary
Word list: probability distribution, random variable, discrete random variable, continuous random variable, binomial probability distribution, discrete probability distribution, continuous probability distribution, normal distribution ( curve , z-score, standard normal distribution ( curve ) A discrete probability experiment is an experiment that satisfies the following. A binomial probability experiment is an experiment that satisfies the following. Binomial probability distributions properties: there is a fixed number, n, of repeated trials whose outcomes are independent, each trial results in one of two possible outcomes. We call one outcome a success and the other outcome a failure: the probability of success on a single trial equals p and remains the same from trial to trial. The probability of a failure equals 1 - p. A continuous probability distribution is an experiment that satisfies the following. Standardized normal distribution is a normal distribution with a mean of 0 and a standard deviation of 1.
