analytics SB 4

Johnny feels that he has a 85% chance of getting an A in Marketing and a 45% chance of getting an A in Managerial Economics. He also believes he has a 35% chance of getting an A in both classes.What is the probability that he gets an A in at least one of these courses?

0.95

What do we refer to events which include all outcomes in the sample space?

exhaustive

We generally test for the independence of two events by comparing the conditional probability of one event, for instance P(A∣B), to the probability, P(A). If these two probabilities are the '', we say that the two events, A and B, are independent; if the probabilities differ, the two events are ''

same; dependent

Which of the following are the two defining properties of probability?

The probability of any event A is a value between 0 and 1; that is, 0 ≤ P(A) ≤ 1. The sum of the probabilities of any list of mutually exclusive and exhaustive events equals 1.

'' theorem uses the total probability rule to update the probability of an event that has been affected by a new piece of evidence

bayes

A random variable summarizes the results of an experiment in terms of numerical values and can be classified as '' or '' depending on the range of values that it assumes.

discrete, continuous

In many instances, we calculate probabilities by referencing data based on the observed outcomes of an experiment. Which probability category is defined as the observed relative frequency with which an event occurs?

empirical probability

True or false: A discrete random variable is characterized by uncountable values, whereas a continuous random variable assumes a countable number of distinct values.

false

True or false: The joint probability of events A and B is derived as P(A ∩ B) = P(A ∣ B)P(A).

false

True or false: The sum of the probabilities of any list of mutually exclusive and exhaustive events do not always equal 1.

false

Two events are '' if the occurrence of one event does not affect the probability of the occurrence of the other event.

independent

On the basis of new information, we update the prior probability to arrive at a conditional probability called a '' probability.

posterior

The original probability is an unconditional probability called a '' probability, in the sense that it reflects only what we know now before the arrival of any new information.

prior

Because many choices we make involve some degree of uncertainty, we are better prepared for the eventual outcome if we can use '' to describe which events are likely and which are unlikely.

probability

An event is any subset of outcomes of the experiment. It is called a '' event if it contains a single outcome.

simple

Which of the following defines a probability that is based on an individual's personal judgment or experience?

subjective probability

What is the probability theory rule that is a tool for breaking the computation of a probability into distinct cases?

total probability rule

True or false: The probability that A occurs given that B has occurred is derived as P(A∣B)=P(A∩B)/P(B)

true