PROBABILITY
-
It is the ratio of successful outcome of an
event to the total possible outcome.
- value between 0 and 1, inclusive, describing the relative possibility, a chance or likelihood that an event will occur.
- value between 0 and 1, inclusive, describing the relative possibility, a chance or likelihood that an event will occur.
-
A study
of random event.
The probability, or chance, that an event will happen can
be described by a number between 0 and 1:
Note that:
1. A probability
of 0, or 0% means the event has no
chance of happening.
2. A probability of 1/2, or 50%, means the event is just
as likely to happen as not to happen.
3. A probability
of 1, or 100%, means the event is certain to happen.
Terminologies:
a.
Experiment – a systematic investigation where
the answer is unknown.
b.
Trial – one specific instance of an experiment.
c.
Outcome -
the result of a single trial. A particular result of an event.
d.
Chance Outcome – possibility of an outcome to
occur.
e.
Event – a selected outcome. A subset of the
sample experiment.
- a collection of one or more outcomes of an experiment.
f.
Sample Space – the set of all possible outcomes
of an experiment.
g.
Complementary Events –the event whose
probabilities add up to1.
h.
Odds - The ratio of the probability of an event
to the probability of its complement.
i.
Element or member – every outcome in a sample
space.
j.
Observation – any recording of categorical or
numerical information.
k.
Permutation - Any arrangement of a finite number
of distinguishable objects in a definite order.
l.
Circular Permutation - Two arrangements are not
considered different unless corresponding objects in the two arrangements are
followed or preceded by different objects as we go clockwise direction.
m.
Combination – a collection of objects with no
definite arrangements.
n.
Tree Diagram – the visual presentation of
possible outcomes.
Probability Approach:
A. Objective Probability - is subdivided into classical probability and empirical concept.
1. Classical Probability - a probability that based on assumption that the outcome of an experiment are
equally likely.
2. Empirical Concept - way to define probability based on relative frequencies.
Probability Approach:
A. Objective Probability - is subdivided into classical probability and empirical concept.
1. Classical Probability - a probability that based on assumption that the outcome of an experiment are
equally likely.
2. Empirical Concept - way to define probability based on relative frequencies.
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