Probability
Definition: chance or likelihood of an event occurring
Outcomes
r of event A
P ( A )=
n
Event A All possible outcomes
Properties of Probability:
Must lie between 1 and 0
0 ≤ P ( A )≤ 1
Event A CAN NOT occur (Impossible):
P ( A )=0
Event A CAN occur (Definitely):
P ( A )=1
Sum of all outcomes must equal 1
Terms:
Mutually Exclusive:
Events cant occur simultaneously on a single trial of random experiment = 0
Statistically Independent:
Event A has no effect on probability of event B outcome
Collectively Exhaustive:
Cover all possible outcomes on single trial of random experiment = 1
Joint Probability: AND
P ( A ∩B )
Rules:
Definition: chance or likelihood of an event occurring
Outcomes
r of event A
P ( A )=
n
Event A All possible outcomes
Properties of Probability:
Must lie between 1 and 0
0 ≤ P ( A )≤ 1
Event A CAN NOT occur (Impossible):
P ( A )=0
Event A CAN occur (Definitely):
P ( A )=1
Sum of all outcomes must equal 1
Terms:
Mutually Exclusive:
Events cant occur simultaneously on a single trial of random experiment = 0
Statistically Independent:
Event A has no effect on probability of event B outcome
Collectively Exhaustive:
Cover all possible outcomes on single trial of random experiment = 1
Joint Probability: AND
P ( A ∩B )
Rules: