Glossary
- Bayes’ Theorem
A formula that is used to revise probabilities based on new information.
- Bernoulli Process
A process with two outcomes in each of a series of independent trials in which the probabilities of the outcomes do not change.
- Binomial Distribution
A discrete distribution that describes the number of successes in independent trials of a Bernoulli process.
- Classical or Logical Method
An objective way of assessing probabilities based on logic.
- Collectively Exhaustive Events
A collection of all possible outcomes of an experiment.
- Conditional Probability
The probability of one event occurring given that another has taken place.
- Continuous Probability Distribution
A probability distribution with a continuous random variable.
- Continuous ...
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