ECON 2B03 Chapter Notes - Chapter 4: Collectively Exhaustive Events, Empirical Probability, Statistical Inference
6 Nov 2013
School
Department
Course
Professor
Document Summary
Lecture # 7- beginning of chapters 4 and 5. Gives rise to entire field of inferential statistics. Drawing a single card once: random event, definition: subset of the sample space, simple event, definition, univariable, bivariate (2 variables), multivariate (more than 2 variables) An single basic outcome from a random experiment: composite event, any combination of two or more basic outcomes. Examples: ask two people if interest rates are going up. Simple events: a1=(y, y), a2=(y, n), a3=(n, y), a4=(n,n) Could definie more interesting composite event such as event a. At least on person said yes , in which the event a1= [a1,a2,a3] while. How random events relate: mutually exclusive events, definition, often also called disjoint or incompatible events. Random events that have no outcomes in common: collectively exhaustive events space. Random events that contain all basic outcomes in the sample: definition, when the appropriate random experiment is collected, one of these.
