PPT-Key Concepts of the Probability Unit

Simulation Probability rules Counting and tree diagrams Intersection and the multiplication rule and independent events Union or the addition rule and disjoint events Venn diagrams. Aditya. G. . Parameswaran. Stanford University. Joint work with: . Hector Garcia-Molina (Stanford) and . Anand. . Rajaraman. (. Kosmix. Corp.). . 1. Motivating Examples. tax assessors san . antonio. Uses of Probability. Probability is used all of the time in real life. Gambling . Sports. Weather. Insurance. Medical Decisions. Standardized Tests. And others. Definition of Probability. “The . likelihood of something . Aditya. G. . Parameswaran. Stanford University. Joint work with: . Hector Garcia-Molina (Stanford) and . Anand. . Rajaraman. (. Kosmix. Corp.). . 1. Motivating Examples. tax assessors san . antonio. Presented by. Derrick W. Smith, Ed.D., COMS. University of Alabama in Huntsville. Recommendations Based on Research. Students can learn both concepts and skills by solving problems.. Giving students both an opportunity to discover and invent new knowledge and an opportunity to . Problem. Historical Distribution. The Newsvendor Problem- Discrete pdf. Cost =1800, Sales Price = 2500, Salvage Price = 1700. Underage Cost = 2500-1800 = 700, Overage Cost = 1800-1700 = 100. What is probability of demand to be equal to 130? . Random Variables and Probability Models:. Binomial, Geometric and Poisson Distributions. Streamline Treatment of Probability. Sample spaces and events are good . starting. points for probability. Sample spaces and events become quite cumbersome when applied to real-life business-related processes. Probability. The study of the occurrence of random events or phenomena.. It does not deal with guarantees, but with the likelihood of an occurrence of an event.. Experiment:. - Any observation or measurement of a random phenomenon.. Probability. The study of the occurrence of random events or phenomena.. It does not deal with guarantees, but with the likelihood of an occurrence of an event.. Experiment:. - Any observation or measurement of a random phenomenon.. Probability is used all of the time in real life. Gambling . Sports. Weather. Insurance. Medical Decisions. Standardized Tests. And others. Definition of Probability. “The . likelihood of something . Conditional Probability. Conditional Probability: . A probability where a certain prerequisite condition has already been met.. Conditional Probability Notation. The probability of Event A, given that Event B has already occurred, is expressed as P(A | B).. : . counting principle and permutations. . 3-Digit Codes. Bell researchers developed a system of 3-digit codes that would automatically route calls to long distance. . We now call this an area code. One-Part Tasks. The results for simple, one-part tasks can often be listed easily. . Tossing a fair coin:. Rolling a single fair die. Heads. or . tails. 1, 2, 3, 4, 5, 6. Consider a club . N. with four members:. A value between zero and one that describe the relative possibility(change or likelihood) an event occurs.. The MEF announces that in 2012 the change Cambodia economic growth rate is equal to 7% is 80%.. Thinking, Concepts, and Creativity. Learning Targets. 34-1. Define . cognition. , . and describe the functions of concepts.. 34-2. . Discuss the factors associated with . creativity. , . and describe some ways of fostering creativity..