Stat part 2
Terms
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- Statistically significant
- unlikly to have occured by chance
- Qualifying Statistical significance
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0.05 (1-20) sig at the 0.05 level
0.01 (1-100) sig at the 0.01 level - outcomes
- most basic results of observations or experiments
- Events
- Collection if one or more outcomes that share a property of interests
- expressing probabilty
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p event = 0 and 1
probability of 0 means that the event is impossiable
Probability of 1 means that the event is certain - Theoretical methods:
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P(a)= number of ways A can occur
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total number of outcomes - Relative freq method
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P(A)= number of times A occured
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total number of observations - Probability of the complement of an event
- P(A)= 1- P(A)
- Law of Large Numbers
- Repeated through many trials, proportion of the trails in which event A ocurs will be close to the probabitity P(A)
- Expected Values
- Expected Values = (valueof event1) x (prob of event 1) + (value of event 2)X(prob of event 2)
- Probability for independent events
- P(A and B)= P(A) X P(B)