Probability

Probability

1. Sample Space

   • For an event where all outcomes are equally likely: P(E)= All favourable outcomes             ---------------------------------              All possible outcomes
   • All possible outcomes

2. Expected Frequency

   • Expected frequency= Theoretical possibility x number of trials
   • The expected number of times an event will occur

3. Complementary Events

   • P(E) = P(not E) = 1
   • Make up the sample space
   • An event complement to another is the opposite event

4. Range of Probability

   • The range of probability is from 0-1
     • Anything closer to 1 is likely
     • Anything closer to 0 is unlikely
     • 0.5 is an even chance