Chapter 4 - Probability

Bayes' theorem

________** is used to revise a probability value based on additional information that is later obtained.

payoff

The ________ odds against event A occurring are the ratio of net profit to the amount bet.

method of hypothesis

Probability** plays a central role in the important statistical ________ testing.

complement

A bar represents the probability the event does not occur (________)

B

If A and ________ are not independent, they are said to be dependent.

Law of large numbers

________**: as a procedure is repeated again and again, the relative frequency probability of an event tends to approach the actual probability.

multiplication counting rule

The ________ is used to find the total # of possibilities from some sequence of events.

dependent events

Sampling without replacement: selections are ________.