Week 12
Week 12:
Math 108 For the Real World
- The sample space of an event is a list of all the possible outcomes of an event.
- A probability model for an event consists of the sample space along with the probability of each possible outcome.
- An empirical probability is determined by historical data or by trying the event many times and computing how often the desired outcome occurs.
- A theoretical probability is determined by using your knowledge of the situation and mathematical formulas to predict how often the desired outcome will occur in the future.
- A parameter is a number based on a survey of the entire population.
- A statistic is a number based on a survey of just a sample of the population.
- Statistics are used to estimate the true percentage (the parameter) for the whole population. The margin of error helps us measure how far our statistic might be from the true percentage (the parameter).
- confidence interval=the statistic ± the margin of error
*Notice that the bigger the sample size, the smaller the margin of error.
*If confidence intervals overlap, there is not enough stastical information to predict an outcome.
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