Probability

What is the numerical measure of the likelihood that an event will occur?

• Expected Value

• Random Variable

• Variance

• Probability

Which law is used to compute the probability that at least one of two events will occur?

• Multiplication Law

• Addition Law

• Bayes' Theorem

• Complement Law

What is the term for the event consisting of all outcomes that are not in event A?

• Complement of A

• Intersection of A

• Union of A

• Conditional Probability

Which theorem is used to revise probabilities when new information is obtained?

• Addition Theorem

• Bayes' Theorem

• Multiplication Theorem

• Law of Total Probability

What type of random variable can take on only specified discrete values?

• Dependent Random Variable

• Continuous Random Variable

• Independent Random Variable

• Discrete Random Variable

What is the expected value of a random variable?

• The maximum value

• The minimum value

• The most frequent value

• The weighted average of the values

Which distribution is characterized by all outcomes having the same probability?

• Poisson Distribution

• Normal Distribution

• Binomial Distribution

• Discrete Uniform Distribution

What does the variance of a random variable measure?

• The central location of the variable

• The spread of the variable's values

• The likelihood of an event

• The total number of outcomes

What is the probability that a customer clicks on the link in Martin's e-mail?

• 0.40

• 0.50

• 0.30

• 0.20

In a binomial probability distribution, what are the two possible outcomes referred to?

• Success and Failure

• Win and Lose

• Yes and No

• True and False