SESSION:3 Probability Topics
Bringing It Together: Practice
Session:3 Probability Topics Bringing It Together: Practice Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics Use the following information to answer the next seven exercises. An article in the New England Journal of Medicine, reported about a study […]
SESSION:3 Probability Topics
Practice
Session:3 Probability Topics Practice Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics 3.1 Terminology 1. In a particular college class, there are male and female students. Some students have long hair and some students have short hair. Write […]
SESSION:3 Probability Topics
Formula Review
Session:3 Probability Topics Formula Review Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics 3.1 Terminology A and B are events P(S) = 1 where S is the sample space 0 ≤ P(A) ≤ 1 P(A| |B) = P(A∩B)P(B) �(�∩�)�(�) 3.2 Independent and Mutually Exclusive Events If A […]
SESSION:3 Probability Topics
Chapter Review
Session:3 Probability Topics Chapter Review Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics 3.1 Terminology In this module we learned the basic terminology of probability. The set of all possible outcomes of an experiment is called the sample […]
SESSION:3 Probability Topics
Key Terms
Session:3 Probability Topics Key Terms Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics Conditional Probability the likelihood that an event will occur given that another event has already occurred Contingency Table the method of displaying a frequency […]
SESSION:3 Probability Topics
3.5 Venn Diagrams
Session:3 Probability Topics 3.5 Venn Diagrams Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics Venn Diagrams A Venn diagram is a picture that represents the outcomes of an experiment. It generally consists of a box that represents the sample […]
SESSION:3 Probability Topics
3.2 Independent and Mutually Exclusive Events
Session:3 Probability Topics 3.2 Independent and Mutually Exclusive Events Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics Independent and mutually exclusive do not mean the same thing. Independent Events Two events are independent if one of the following are […]
SESSION:3 Probability Topics
3.4 Contingency Tables and Probability Trees
Session:3 Probability Topics 3.4 Contingency Tables and Probability Trees Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics Contingency Tables A contingency table provides a way of portraying data that can facilitate calculating probabilities. The table helps in determining conditional […]
SESSION:3 Probability Topics
3.3 Two Basic Rules of Probability
Session:3 Probability Topics 3.3 Two Basic Rules of Probability Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics When calculating probability, there are two rules to consider when determining if two events are independent or dependent and if […]
SESSION:3 Probability Topics
3.1 Terminology
Session:3 Probability Topics 3.1 Terminology Introductory Business Statistics | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics Probability is a measure that is associated with how certain we are of outcomes of a particular experiment or activity. An experiment is a planned operation […]