Unit 8 Probability Review

Front

What is the probability of an event?

Back

The likelihood of an event occurring, expressed as a number between 0 and 1, where 0 means the event will not occur and 1 means it will certainly occur.

Front

What is conditional probability?

Back

The probability of an event occurring given that another event has already occurred, denoted as P(A|B).

Front

How do you calculate the probability of two independent events occurring together?

Back

Multiply the probabilities of each event: P(A and B) = P(A) * P(B).

Front

What is a compound event?

Back

An event that consists of two or more simple events.

Front

What is the expected value in probability?

Back

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

Front

How do you find the total number of arrangements of n distinct objects?

Back

Use the factorial of n, denoted as n!, which is the product of all positive integers up to n.

Front

What is a fair game in probability?

Back

A game where the expected value is zero, meaning no player has an advantage over the others.

Front

What is the formula for calculating combinations?

Back

C(n, r) = n! / (r!(n - r)!), where n is the total number of items, and r is the number of items to choose.

Front

What is the difference between dependent and independent events?

Back

Independent events do not affect each other's outcomes, while dependent events do.

Front

How do you calculate the probability of a compound event?

Back

For independent events, multiply their probabilities; for dependent events, use P(A and B) = P(A) * P(B|A).