POE Probability

Propability is the ________ likelihood that a given event will occur.

• estimated

• calculated

• guessed

Which of these is NOT a method of determining probability?

• Empirical

• Theoretical

• Objective

• Subjective

The Empirical Method is based on ______ observation.

Example: Process Control

The Theoretical Method uses _____ elements.

Examples: Coin toss, die rolling.

The Subjective Method makes ______.

Examples: I think that...

Probability Components are:

(Select All That Apply)

• Experiment

• Sample Space

• Event

• Income / Simple Point

• Outcome / Sample Point

Probability is a way of communicating the belief that an event will occur.

• True

• False

Probability can be expressed as a number between 0 and 1,

like the following EXCEPT:

• Fraction

• Mixed Number

• Percent

• Decimal

The total probability of ALL possible events totals:

The number of times an event will occur divided by the number of opportunities is:

• Relative Frequency

• Relative

  Period

• Relative

  Velocity

• Relative

  Tree