Final Review: Unit 8 - Probability Review

Front

What is the expected value in probability?

Back

The expected value is the long-term average or mean of a random variable, calculated as the sum of all possible values, each multiplied by its probability.

Front

How do you calculate the probability of an event?

Back

Probability is calculated as the number of favorable outcomes divided by the total number of possible outcomes.

Front

What is a valid probability distribution?

Back

A valid probability distribution must satisfy two conditions: all probabilities must be between 0 and 1, and the sum of all probabilities must equal 1.

Front

What is the probability of an event that cannot occur?

Back

The probability of an event that cannot occur is 0.

Front

What is the probability of selecting a month from a year?

Back

The probability of selecting any specific month from a year is 1/12.

Front

If a farm has 5 brown cows and 10 white cows, what is the probability of selecting a brown cow first?

Back

The probability of selecting a brown cow first is 5/15 or 1/3.

Front

What is the probability of selecting a white cow after selecting a brown cow?

Back

If a brown cow is selected first, the probability of selecting a white cow next is 10/14.

Front

What is the formula for calculating expected value?

Back

Expected Value (E) = Σ [x * P(x)], where x is the value and P(x) is the probability of x.

Front

What does it mean if the probability of an event is 1?

Back

If the probability of an event is 1, it means the event is certain to occur.

Front

What is the probability of selecting either September or October from a year?

Back

The probability of selecting either September or October is 2/12 or 1/6.