PPT-Class 02 Probability, Probability Distributions, Binomial Distribution

What we learned last class We are not good at recognizingdealing with randomness Our random coin flip results werent streaky enough If BG results behave like independent coin flips we know how many families to EXPECT with 01234 girls. 2/29/2012. Review. When playing roulette at the Bellagio casino in Las Vegas, a gambler is trying to decide whether to bet $5 on the number 13 or to bet $5 that the outcome is any one of these five possibilities: 0 or 00 or 1 or 2 or 3. From Example 8, we know that the expected value of the $5 bet for a single number is -26₵. For the $5 bet that the outcome is 0 or 00 or 1 or 2 or 3, there is a probability of 5/38 of making a net profit of $30 and a 33/38 probability of losing $5.. Understanding the meaning of the terminology we use.. Quick calculations that indicate understanding of the basis of methods.. Many of the possible questions are already sprinkled in the lecture slides.. AS91586 Apply probability distributions in solving problems. NZC level 8. Investigate situations that involve elements of chance. calculating and interpreting expected values and standard deviations of discrete random variables. T.Jagannadha. . Swamy. Dept of . ECE,Griet. Random Variable. A random variable . x. takes on a defined set of values with different probabilities.. For example, if you roll a die, the outcome is random (not fixed) and there are 6 possible outcomes, each of which occur with probability one-sixth. . Binomial distributions. are models for some categorical variables, typically representing the . number of successes. in a series of . n. independent trials. . The observations must meet these requirements: . A Brief Introduction. Random Variables. Random Variable (RV): A numeric outcome that results from an experiment. For each element of an experiment’s sample space, the random variable can take on exactly one value. http://www.answers.com/topic/binomial-distribution. Chapter 13: Bernoulli Random Variables. http://www.boost.org/doc/libs/1_42_0/libs/math/doc/sf_and_dist/html. /. math_toolkit. /. dist. /. dist_ref. Delta On-Time Performance at Hartsfield-Jackson Atlanta International (June, 2003 - June, 2015). http://www.transtats.bts.gov/OT_Delay/ot_delaycause1.asp?display=data&pn=1. Data / Model. Total Operations: 2,278,897. II. BINOMIAL DISTRIBUTIONS A. Binomial Experiments 1. A binomial experiment is a probability experiment that satisfies the following conditions: a. The experiment is repeated for a fixed number of independent trials. Chapter 8. Warm up. Find each combination or permutation. . 5 C 2. 10 C 3. 10 P 3. 8.1 The Binomial Distribution. A . binomial experiment. . is . statistical . experiment. that has the following properties: . In this class we will review . how statistics are used to . summarize data, special probability distributions, . their . use in simple applications using Frequentist and Bayesian . methods, and Monte Carlo techniques. John . Rundle . Econophysics. PHYS 255. Probability Distributions. Q: Why should we care about probability distributions? Why not just focus on the data?. A: Outliers. We want to know how probable are the outliers of large market moves, so we can control our exposure and risk. R Programming. By . Dr. Mohamed . Surputheen. probability distributions in R. Many statistical tools and techniques used in data analysis are based on probability. . Probability . measures how likely it is for an event to occur on a scale from 0 (the event never occurs) to 1 (the event always occurs). . Dr. Gavisiddappa . Gadag. Introduction:. . In case of population the values of variables are distributed according to some definite probability law which can be expressed mathematically and the corresponding probability distribution is known as...