Briefly Explain Expectancy Theory

question 37

Essay

Briefly explain expectancy theory.

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Definitions:

Probability of Success

The likelihood or chance of an event happening that is considered a favorable outcome.

Normal Curve

A symmetric bell-shaped curve that represents the distribution of many types of data; most values remain near the mean and the frequencies decrease further from the mean.

Binomial Probability

The probability of obtaining a fixed number of successes in a set number of trials in an experiment with two possible outcomes.

Continuity Correction

A correction used in approximating a discrete distribution with a continuous one, especially in hypothesis testing with binomial distributions.