Expected Value, Binomial, Geometric Probability Flashcard

Front

What does the q or (1-p) stand for in the binomial probability formula?

Back

Probability of Failures

Front

What is the success criteria when flipping a fair quarter to find the probability of getting exactly three heads?

Back

coin shows heads

Front

What is the probability that the tenth blood donor is the first donor with Type B blood if 11% of the U.S. population has Type B blood?

Back

0.0385

Front

If the expected value is negative, are you expected to win?

Back

no

Front

What is the probability of getting exactly 10 heads when flipping a coin 20 times?

Back

17.62%

Front

Define Expected Value in probability.

Back

The average outcome of a random variable, calculated as the sum of all possible values, each multiplied by its probability.

Front

What is a Binomial Distribution?

Back

A probability distribution that summarizes the likelihood that a value will take one of two independent states across a number of trials.

Front

What are the parameters of a Binomial Distribution?

Back

Number of trials (n) and probability of success (p).

Front

What is a Geometric Distribution?

Back

A probability distribution that models the number of trials until the first success occurs.

Front

What is the formula for calculating the probability of exactly k successes in n trials in a Binomial Distribution?

Back

P(X = k) = (n choose k) * p^k * (1-p)^(n-k).