ProbStats Flashcard 4A Review - Discrete Probability Distributions

Front

What is a discrete random variable?

Back

A discrete random variable is a type of variable that can take on a countable number of distinct values. Examples include the number of siblings a person has or the number of cars in a parking lot.

Front

What is the standard deviation in a probability distribution?

Back

The standard deviation is a measure of the amount of variation or dispersion in a set of values. In a probability distribution, it quantifies how much the values deviate from the mean.

Front

How do you calculate the probability of an event?

Back

The probability of an event is calculated by dividing the number of favorable outcomes by the total number of possible outcomes.

Front

What does it mean for a game to be 'fair'?

Back

A game is considered fair if the expected value of the game is zero, meaning that the average outcome for players is neither a gain nor a loss.

Front

What is the expected value in a probability distribution?

Back

The expected value is the long-term average of all possible outcomes of a random variable, weighted by their probabilities.

Front

How do you find the probability of 'no more than' a certain number of occurrences?

Back

To find the probability of 'no more than' a certain number of occurrences, sum the probabilities of all outcomes from zero up to that number.

Front

What is the formula for standard deviation in a discrete probability distribution?

Back

The formula for standard deviation (σ) is: σ = √(Σ [x_i - μ]² * P(x_i)), where x_i is each value, μ is the mean, and P(x_i) is the probability of x_i.

Front

What is a probability distribution table?

Back

A probability distribution table lists all possible outcomes of a random variable and their corresponding probabilities.

Front

What is the difference between discrete and continuous random variables?

Back

Discrete random variables can take on a finite or countable number of values, while continuous random variables can take on an infinite number of values within a given range.

Front

How do you calculate the probability of '2 OR 3' occurrences?

Back

To calculate the probability of '2 OR 3' occurrences, add the probabilities of exactly 2 occurrences and exactly 3 occurrences.