All Flashcards
What are the differences between Binomial and Geometric Distributions?
Binomial: Fixed number of trials | Geometric: Trials continue until first success
What are the differences between Independent and Mutually Exclusive Events?
Independent: One event doesn't affect the other | Mutually Exclusive: Events cannot occur simultaneously
What are the differences between Categorical and Quantitative Variables?
Categorical: Data falls into distinct categories | Quantitative: Data is numerical and can be measured
What are the differences between binompdf and binomcdf?
binompdf: Calculates the probability of exactly x successes | binomcdf: Calculates the cumulative probability of x or fewer successes
What are the differences between normalcdf and invNorm?
normalcdf: Calculates the probability given z-scores or values | invNorm: Calculates the z-score or value given a probability
Explain the concept of Normal Distribution.
Bell-shaped and symmetrical, used to model many real-world phenomena. Characterized by mean (μ) and standard deviation (σ).
Explain the concept of Binomial Distribution.
Used for a fixed number of independent trials with two outcomes (success or failure).
Explain the concept of Geometric Distribution.
The number of trials needed until the first success.
Explain the concept of z-scores.
Measure how many standard deviations a value is from the mean in a normal distribution.
Explain the concept of density curves.
The area under a density curve represents probability.
What is the definition of Probability?
The chance of an event occurring.
What is the definition of Random Variables?
Variables whose values are numerical outcomes of random phenomena.
What is the definition of Probability Distributions?
Describe the possible values and likelihoods of a random variable.
What does Independence mean in probability?
One event's outcome doesn't affect another event's outcome.
What does Mutually Exclusive mean in probability?
Events that can't happen at the same time.