Unit 8 Probability Review

Front

What does the symbol ( ∩ ) represent in set theory?

Back

Intersection

Front

What is the expected value of a game where you pay $5 to roll a die and receive $10 if you roll a 6?

Back

-$3.33

Front

How many different teams of four can be formed from a pool of 12 engineers?

Back

495

Front

Given the probability model: X = 50, 20, 5 with P(X) = 0.1, 0.3, 0.6, what is the expected value of X?

Back

14

Front

What is the probability that a randomly selected student got an A or B for the semester if 35 out of 100 students received these grades?

Back

35/100

Front

Define 'Probability'.

Back

Probability is a measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Front

What is the formula for calculating the expected value (EV)?

Back

EV = Σ (x * P(x)) where x is the value and P(x) is the probability of x.

Front

What does the symbol ( ∪ ) represent in set theory?

Back

Union

Front

What is a 'random variable'?

Back

A random variable is a variable whose possible values are numerical outcomes of a random phenomenon.

Front

Explain the concept of 'combinations' in probability.

Back

Combinations refer to the selection of items from a larger pool where the order does not matter.