Thursday, April 24, 2008
Probability Covered in my Business Calculus Class
So, we have finally reached the probabilities section in my Business Calculus class. I checked the textbook and found out that there are only two sections about probability. Obviously, that is not going to help me out for Exam P at all, but it's better than nothing. Before taking this course, the only thing I knew about probability was figuring out the odds of rolling a 3 on a 6 side dice. At least now I can delve deeper into the subject. The first section, 5.4, deals with fairly basic concepts of probability. It basically talks about the Probability Density Function and the rules that make up the function. We also learned how to construct a Probability Density Function and use it to solve certain problems.
In 5.5 we learned about the Expected Value of a function. We delved a little deeper into the subject by learning how to calculate the mean, variance, and standard deviation. I vaguely remember learning about this in a Statistics class I took during high school. But whatever I learned in that class has certainly gone by the wayside.
We also learned about the Normal Distribution in section 5.5. Overall, the concepts of probability we learned in this class seems pretty simple. Based on what I have seen so far in the ASM manual, this is the most basic of basic probability concepts. But since I was not all that familiar with probability in the first place, this is a great start for me. At least now I am more familiar with looking at probability notations that I have never previously seen before.