I consider this a good summary. The student has captured all of the core concepts. The first three entries in the summary are typical "warm-up" items. By this, I mean that they specifically reiterate information developed in the lesson. The remainder of the summary is where the student's conceptual understanding emerges. The student has listed seven characteristics relating to mathematical models that he can generalize beyond the day's lesson. This is always the aim of good instruction.
Looking at this summary and the day as a whole, I can see that I need to spend some time helping students nail down the starting value in the recursive model. I think this student also needs some assistance rewriting the first item in the summary. It is unclear from the writing whether he is referring to the cumulative probability or the probability of a single event. I believe he is referring to the cumulative probability. It is my experience that students who are ambiguous in their writing have some ambiguities in their understanding.