Probability

Probability

1. Basic Concepts

   • Outcomes: posible answers
   • Sample space: all the posible answers (outcomes)
   • Event: piece of the sample space
   • Experiments: observation of a random phenomenon

2. ODDS: In favor/ Against

3. Venn Diagrams

   • Intersection: AΩB
   • Difference: A-B
   • Complement: A'
   • Union: AUB

4. Events Involving "And"

   • Multiplication rule of probabiliy
     • For any two events A and B are= P(A)·P(B/A)
     • Indepent events= P(A)-P(B)
   • Conditional probability formula its same other event has happened
     • P(B/A)=(P(AandB)/P(A)

5. Events involving "not" and "or"

   • Probability of the complement: P(not E)=1-P(E) will not occur
   • Addition rule of probability: if A and B are any two events or if A and B are mutually exclusive
     • P(A or B)=P(A)+P(B)-P(A and B)
     • P(A or B)=P(A)+P(B)
   • Properties of probability
     • Certain event:P(s)=1
     • Impossible event: P(not 0)=0
     • Probability value: 0-1