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Quantitative Analysis - Coggle Diagram
Quantitative Analysis
Relationships of Probability
3. Intersection of two events
all sample points that in both A and B
think AND statement
4. Mutually exclusive events
no sample points in common between A and B
when one event of variable occurs the other cannot
2. Union of two events
contains all sample points that are in A or B or both
Think OR statement
5. Independent events
1. Complement of an event
The Complement of A is denoted as A^c
A^c consists of sample points not in A
Conditional Probability
P(A|B)
WHATS THE PROBABILITY OF a GIVEN b
Measures of Variability
Range
Variance
Standard Deviation
Square root of variance or variancve ^ 0.5
IQR
Assigning Probabilities
Classical Methods
based on equal liklihood
Relative Frequency Method
based on historical data
Subjective Method
based on judegement