IM3 Stats Review

Front

What is probability?

Back

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

Front

How do you calculate the probability of drawing a specific marble from a bag?

Back

Probability = (Number of favorable outcomes) / (Total number of outcomes).

Front

What is the formula for the probability of the union of two events?

Back

P(A or B) = P(A) + P(B) - P(A and B).

Front

What does it mean if two events are independent?

Back

Two events are independent if the occurrence of one does not affect the probability of the other.

Front

What is a normal distribution?

Back

A normal distribution is a probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence.

Front

What is the mean in a data set?

Back

The mean is the average of a set of numbers, calculated by dividing the sum of all values by the number of values.

Front

What is standard deviation?

Back

Standard deviation is a measure of the amount of variation or dispersion in a set of values.

Front

How do you find 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 the probability of drawing a red marble and then a green marble from a bag?

Back

P(Red then Green) = P(Red) * P(Green after Red is removed).

Front

What is the significance of the 31% and 74% in the SUV and car ownership problem?

Back

They represent the probabilities of two different events: owning an SUV and owning a car.