## Unit 2 Learning Outcomes

Upon successful completion of this unit, you will be able to:

- identify values of and differentiate between permutations and combinations;
- explain and apply the different methods for determining probability: equally likely outcomes, frequency theory, and subjective theory;
- define and apply the axioms of probability theory;
- define and apply the concept of a probability distribution, and explain the properties of different distributions;
- solve problems using binomial distribution, and explain when it should be used;
- differentiate between discrete and continuous probability distributions; and
- define and apply the concept of expected value, and calculate it for various probability distributions.

Last modified: Tuesday, 15 December 2015, 6:08 PM