CAS MA 113 Study Guide - Midterm Guide: Binomial Distribution, Random Variable, Sampling Distribution
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Random variable: numerical outcome of an experiment whose value is determined by chance. Probability distribution: gives the probability for each value of the random variable. Discrete random variable: 2 rules for probability distribution. The sum of all the individual probabilities must equal 1. The individual probabilities must be between 0 and 1. Experiment is performed a fixed number of times. Each repetition of the experiment is called a trial. For each trial there must be exactly two mutually exclusive (disjoint) outcomes. (these outcomes are often called success or failure. ) The probability of success is the same for all the trials. Notation used for binomial probability distribution number of trials of the experiment probability of success in each trial probability of failure in each trial number of successes in trials; probability of successes in trials. The probability of exactly x successes in n trials of a binomial experiment (2 mutually exclusive outcomes) is given by: