QMS 102 Lecture Notes - Ryerson University, Probability Distribution, Random Variable

• School: Ryerson University
• Department: Quantitative Methods
• Course: QMS 102
• Professor: Jason Chin- Tiong Chan

Document Summary

The chance that an event will occur: discuss the meaning of 10% chance of snowing this late afternoon , for a true or false question, what is the chance of getting the correct answer if. Why: give 2-3 examples of situations where you use probability concept in your daily life. Understand the concepts of discrete and continuous random variables and their associated distributions. 1. can be represented by a. table b. graphical chart. 2. can be summarized with a. expected values(or means), which are measures of centre tendency (location) of the probability distribution b. standard deviations, which are measures of variability of the probability distribution. 1 a. the expected value b. the variance c. the standard deviation. The probability distribution for a random variable x is as shown in the following table. x. 3 y the value of y b. the expected value c. the standard deviation a.