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What is the sum of the probabilities of each outcome multiplied by the outcome value?
expected value
Do probabilities predict the precise outcome of an individual event?
sometimes
What are dependent and independent probability in math terms?
Two events are said to be independent if the outcome of one event does not affect the outcome of the other. Their probabilities are independent probabilities. If the events are not independent then they are dependent.
True or false probabilities predict the precise outcome of an individual event?
False.
True or False equals Probabilities predict the precise outcome of an individual event?
false
What does nonreplacement mean in probability?
It refers to experiments where more than one tokens are randomly selected from a set of tokens (of different colours). If the the token is replaced after each selection, the probabilities remain constant whereas if the token is not replaced - as the question suggests - the probabilities change, depending on the outcome of the selection.It refers to experiments where more than one tokens are randomly selected from a set of tokens (of different colours). If the the token is replaced after each selection, the probabilities remain constant whereas if the token is not replaced - as the question suggests - the probabilities change, depending on the outcome of the selection.It refers to experiments where more than one tokens are randomly selected from a set of tokens (of different colours). If the the token is replaced after each selection, the probabilities remain constant whereas if the token is not replaced - as the question suggests - the probabilities change, depending on the outcome of the selection.It refers to experiments where more than one tokens are randomly selected from a set of tokens (of different colours). If the the token is replaced after each selection, the probabilities remain constant whereas if the token is not replaced - as the question suggests - the probabilities change, depending on the outcome of the selection.
Why are experimental probabilities sometimes very different from theoretical probabilities?
A perfect example of how theories are tested ! Theory predicts the outcome of the experiment, and the purpose of the experiment is to test the theory. If the outcome of the experiment is appreciably different from the one predicted by the theory, (and if the experiment itself was valid), then the prediction is flawed, and the theory must be either tweaked or trashed.
What is the shape of the binomial probability distribution in rolling a die?
The distribution depends on what the variable is. If the key outcome is the number on the top of the die, the distribution in multinomial (6-valued), not binomial. If the key outcome is the number of primes, composite or neither, the distribution is trinomial. If the key outcome is the number of sixes, the distribution is binomial with unequal probabilities of success and failure. If the key outcome is odd or even the distribution is binomial with equal probabilities for the two outcomes. Thus, depending on the outcome of interest the distribution may or may not be binomial and, even when it is binomial, it can have different parameters and therefore different shapes.
How do you calculate expected rate of return?
The expected rate of return is calculated by multiplying the potential returns of each possible outcome by their probabilities and then summing these values. The formula is: Expected Rate of Return = (Probability of Outcome 1 × Return of Outcome 1) + (Probability of Outcome 2 × Return of Outcome 2) + ... + (Probability of Outcome n × Return of Outcome n). This approach helps investors assess the average return they might anticipate from an investment based on various scenarios.
What are the common reasons for undergoing nipple replacement surgery?
Common reasons for undergoing nipple replacement surgery include restoring the appearance of the nipple after mastectomy, correcting nipple abnormalities, and enhancing the aesthetic outcome of breast reconstruction procedures.
Draw the probability tree diagram for flipping the coin two times showing the outcome?
Each toss outcome has a probability of 1/2; picture copied from the related link. The related link does a good job explaining tree diagrams and probabilities.
What is probability if repeated events?
When an event is repeated, the probability of it occurring is squared. For instance, if an outcome had the probability of 1/4, then the outcome happening twice would have a probability of 1/16. Note, however, that this does not mean that the second event has different probabilities. That particular outcome will always be 1/4, regardless of anything that happened before it.
