Chapter 4 - Probability

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Statistics

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8 Terms

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Bayes' theorem
________** is used to revise a probability value based on additional information that is later obtained.
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payoff
The ________ odds against event A occurring are the ratio of net profit to the amount bet.
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method of hypothesis
Probability** plays a central role in the important statistical ________ testing.
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complement
A bar represents the probability the event does not occur (________)
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B
If A and ________ are not independent, they are said to be dependent.
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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.
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multiplication counting rule
The ________ is used to find the total # of possibilities from some sequence of events.
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dependent events
Sampling without replacement: selections are ________.