<< Chapter < Page Chapter >> Page >
Probability: Terminology is part of the collection col10555 written by Barbara Illowsky and Susan Dean defines key terms related to Probability and has contributions from Roberta Bloom.

Probability is a measure that is associated with how certain we are of outcomes of a particular experiment or activity. An experiment is a planned operation carried out under controlled conditions. If the result is not predetermined, then the experiment is said to be a chance experiment. Flipping one fair coin twice is an example of an experiment.

The result of an experiment is called an outcome . A sample space is a set of all possible outcomes. Three ways to represent a sample space are to list the possible outcomes, tocreate a tree diagram, or to create a Venn diagram. The uppercase letter S is used to denote the sample space. For example, if you flip one fair coin, S = {H, T} where H = heads and T = tails are the outcomes.

An event is any combination of outcomes. Upper case letters like A and B represent events. For example, if the experiment is to flip one fair coin, event A might be getting at most one head. The probability of an event A is written P(A) .

The probability of any outcome is the long-term relative frequency of that outcome. Probabilities are between 0 and 1, inclusive (includes 0 and 1 and all numbers between these values). P(A) = 0 means the event A can never happen. P(A) = 1 means the event A always happens. P(A) = 0.5 means the event A is equally likely to occur or not to occur. For example, if you flip one fair coin repeatedly (from 20 to 2,000 to 20,000 times) the relative fequency of heads approaches 0.5 (the probability of heads).

Equally likely means that each outcome of an experiment occurs with equal probability. For example, if you toss a fair , six-sided die, each face (1, 2, 3, 4, 5, or 6) is as likely to occur as any other face. If you toss a fair coin, a Head(H) and a Tail(T) are equally likely to occur. If you randomly guess the answer to a true/false question on an exam, you are equally likely to select a correct answer or an incorrect answer.

To calculate the probability of an event A when all outcomes in the sample space are equally likely , count the number of outcomes for event A and divide by the total number of outcomes in the sample space. For example, if you toss a fair dime and a fair nickel, thesample space is {HH, TH, HT, TT} where T = tails and H = heads. The sample space has four outcomes. A = getting one head. There are two outcomes {HT, TH} . P(A) = 2 4 .

Suppose you roll one fair six-sided die, with the numbers {1,2,3,4,5,6} on its faces. Let event E = rolling a number that is at least 5. There are two outcomes {5, 6} . P(E) = 2 6 . If you were to roll the die only a few times, you would not be surprised if your observed results did not match the probability. If you were to roll the die a very large number of times, you would expect that, overall, 2/6 of the rolls would result in an outcome of "at least 5". You would not expect exactly 2/6. The long-term relative frequency of obtaining this result would approach the theoretical probability of 2/6 as the number of repetitions grows larger and larger.

Questions & Answers

profit maximize for monopolistically?
Usman Reply
what kind of demand curve under monopoly?
Mik Reply
what is the difference between inflation and scarcity ?
Abdu Reply
What stops oligopolists from acting together as a monopolist and earning the highest possible level of profits?
Mik
why economics is difficult for 2nd school students.
Siraj Reply
what does mean opportunity cost?
Aster Reply
what is poetive effect of population growth
Solomon Reply
what is inflation
Nasir Reply
what is demand
Eleni
what is economics
IMLAN Reply
economics theory describes individual behavior as the result of a process of optimization under constraints the objective to be reached being determined by
Kalkidan
Economics is a branch of social science that deal with How to wise use of resource ,s
Kassie
need
WARKISA
Economic Needs: In economics, needs are goods or services that are necessary for maintaining a certain standard of living. This includes things like healthcare, education, and transportation.
Kalkidan
What is demand and supply
EMPEROR Reply
deman means?
Alex
what is supply?
Alex
ex play supply?
Alex
Money market is a branch or segment of financial market where short-term debt instruments are traded upon. The instruments in this market includes Treasury bills, Bonds, Commercial Papers, Call money among other.
murana Reply
good
Kayode
what is money market
umar Reply
Examine the distinction between theory of comparative cost Advantage and theory of factor proportion
Fatima Reply
What is inflation
Bright Reply
a general and ongoing rise in the level of prices in an economy
AI-Robot
What are the factors that affect demand for a commodity
Florence Reply
price
Kenu
differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
Got questions? Join the online conversation and get instant answers!
Jobilize.com Reply
Practice Key Terms 7

Get Jobilize Job Search Mobile App in your pocket Now!

Get it on Google Play Download on the App Store Now




Source:  OpenStax, Engr 2113 ece math. OpenStax CNX. Aug 27, 2010 Download for free at http://cnx.org/content/col11224/1.1
Google Play and the Google Play logo are trademarks of Google Inc.

Notification Switch

Would you like to follow the 'Engr 2113 ece math' conversation and receive update notifications?

Ask