PROBABILITY

PROBABILITY

1. Probability of any event can never be less than 0 and not more than 1 0≤P(E)≤1

2. The different outcomes have the same as equal chance of occurence

   • Equally likely event

3. Set of all possible outcomes of an experiment

   • Sample space

4. An outcome of an random experiment or an event is something that happens

   • Event

5. Random experiment may result in two or more outcomes e.g.(i)tossing a coin (ii)throwing a dice

   • Random Experiment

6. Types

   • Empirical Probability
     • When probability is based on an actual experiment is performed then P(E)= no. of times events E occurred/ Number of times the experiment was performed
   • Measurement Probability
     • When repetition of an experiment can be avoided for exact probability. Probability=No. of favourable outcomes/ Number of all outcomes
   • Classical Probability
     • Probability of an event denotes likelihood of its happening. P(E)=No. of events favourable/ Total number of all possible event

7. Probability of Event

   • Sum
     • Sum of the probability of all events is always one e.g. Suppose these are n events corresponding to a random experiment, them P(E1)+P(E2)+P(E3)+-----P(En)=1
   • Complementary event
     • P(E)+P(E`)=1 or p(E`)=1-P(E) here, P(E`)=P(not E`)=complementary event
   • Certain event or sure event
     • Probability of an event is equal to 1
   • Impossible Event
     • Probability of an event is equal to 0

8. Probability of any event can never be less than 0 and not more than 1.