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Probability 05 Essay

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Below is an essay on "Probability 05" from Anti Essays, your source for research papers, essays, and term paper examples.

Probability

Definitions

      • Probability – the likelihood of the occurrence of an event


      • Random outcome – an outcome that cannot be predicted with certainty

      • Statistical experiment or observation – any activity that results in a definite, but random, outcome


      • Simple event – the most basic outcomes in a sample space; cannot be broken down any further


      • Event – any simple event or collection of simple events in a sample space

      • Sample space – the collection of all simple events for a statistical experiment
Classical Probability
      ▪ The sample space is a collection of equally likely outcomes

[pic]

Empirical Probability (relative frequency)
      ▪ The outcomes of a random experiment are observed over repeated trials

[pic]

Note:   the Law of Large Numbers states that relative frequency gets closer and closer to the true probability as the sample size increases



Subjective Probability
      ▪ The probability of any event is a person’s opinion (educated guess? intuition?) of the likelihood of an event

P(A) = whatever you think it is!
Probability Rules!

1. The probability of any event must be between 0 and 1.   That is, [pic] for any event A.

2. The sum of the probabilities for all simple events in a sample space must be 1.

3. The complement of event A consists of all outcomes in the sample space that do not make up event A, therefore

[pic][pic]

Note: A Venn diagram is useful for displaying relationships among events in a sample space.

          The Venn diagram to show A and AC might look like this:

            A AC

          S

4. Two events are mutually exclusive (or disjoint) if they contain no common outcomes.

          The Venn diagram to show two disjoint events A and B might look like this:

            A   B

          S


5. The union of two events A and B consists of all outcomes in the sample space...

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Citations

MLA Citation

"Probability 05". Anti Essays. 9 Dec. 2018

<http://parimatch-stavka7.com/free-essays/Probability-05-393686.html>

APA Citation

Probability 05. Anti Essays. Retrieved December 9, 2018, from the World Wide Web: http://parimatch-stavka7.com/free-essays/Probability-05-393686.html


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