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S5.1 - Probability Rules
Probability Rules
16
Mathematics
Graduate
11/05/2013

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Term
Probability
Definition
A measure of the likelihood of a random phenomenon or chance behavior
Term
Outcome
Definition
Result
Term
The law of large numbers
Definition
As the number of repetitions of a probability experiment increases, the proportion with which a certain outcome is observed gets closer to the probability of the outcome
Term
Experiment
Definition
Any process with uncertain results that can be repeated
Term
Sample space, S
Definition
The collection of all possible outcomes
Term
Event, E
Definition
Any collection of outcomes from a probability experiment
Term
1. Rules of probabilities
Definition
The probability of any event P(E) is 0<=P(E)<=1
Term
2. Rules of probabilities
Definition
The sum of the probabilities of all outcomes must equal 1
Term
Probability model
Definition
The possible outcomes of a probability experiment and each outcome's probability
Term
Unusual event
Definition
An event that has a low probability of occurring
Term
3 methods for determining the probability of an event
Definition
1. Empirical method
2. Classical method
3. Subjective method
Term
Probabilities using empirical method, P(E) ~
Definition
Frequency of E/number of trials of experiment
Term
Probabilities using classical method, P(E) =
Definition
Number of ways the E can occur/number of possible outcomes = N(E)/N(S)
Term
Equally likely outcomes
Definition
When each outcome has the same probability of occurring
Term
Tree diagram
Definition
Listing the equally likely outcomes of the experiment with a tree
Term
Subjective probability
Definition
A probability obtained on the basis of personal judgment
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