Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Business Stats ch 6

Basic Statistics for Business and Economics ch 6

QuestionAnswer
Probability Distribution A listing of all the outcomes of an experiment and the probability associated with each outcome.
Characteristics of a Probability Distribution The probability of a particular outcome is between 0 and 1 inclusive. The outcomes are mutually exclusive events. The list is exhaustive, so the sum of the probabilities of the various events is equal to 1.
Random Variable A quantity resulting from an experiment that, by chance, can assume different values.
Discrete Random Variable A random variable that can assume only certain clearly separated values.
Expected Value The mean of a probability distribution.
Binomial Probability Distribution A widely occurring discrete probability distribution.
What are the binomial characteristics? An outcome of an experiment is classified into of 2 mutually exclusive categories. The random var counts the number of successes in a fixed number of trials. The probability of success and failure stay the same for each trial. The trials are independent.
The Greek letter pi is? The probability of success on each trial.
n = The number of trials.
x = The random variable defined as the number of successes.
Poisson Probability Distribution Describes the number of times some event occurs during a specified interval. The interval may be time, distance, area, or volume.
What are the characteristics of a Poisson Probability Distribution? The random variable is the number of times some event occurs during a defined interval. The probability of the event is proportional to the size of the interval. The intervals do not overlap and are independent.
mu is? The mean number of occurrences (successes) in a particular interval.
e is? The constant 2.71828 (base of the Napierian logarithmic system).
P(x) is? The probability for a specified value of x.
Created by: dengler
Popular Business sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards