Probability and Statisics

Probability and Statisics

1. All probabilities are between 0 and 1.

   • A probability of zero means it will never happen and a probability of one means it definately will.
   • Probability = Number of ways for something to happen Total number of possible outcomes
     • This only applies if all the possible outcomes are equally likely.
   • Probabilities always ADD UP to 1.
   • P (event happens) + P (event doesn't happen) = 1