1/20
😀🔫
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No study sessions yet.
random process
generates outcomes purely by chance
unpredictable in short-term but predictable in the long run
Probability
likelihood of an event to happen
proportion of times an outcome would occur in the long run
Law of Large Numbers
more trials means proportion approaches true probability (more accurate)
Simulation
imitates random process such that simulated outcomes are consistent with real-world outcomes
probability model
description of a random process that includes a list of all possible outcomes & the probability for each outcome to determine theoretical probability
Sample Space
List of all outcomes
sum of all probabilities is 1 (or 100%), each probability is between 0 & 1 (or 0% & 100%)
Event
any collection of outcomes from a random process
P(A) = (number of outcomes in event A) / (total number of outcomes in sample space)
Complement
the probability that an event does not occur
P(AC) = 1 – P(A)
Intersection
P(A and B) = A ∩ B (both A and B must be true)
joint probability
Union
P(A or B) = A ⋃ B (at least one–either A or B, or both–must be true)
Mutually Exclusive Events
cannot occur simultaneously (no outcomes in common) (also known as disjoint)
if P(A and B) = 0
Addition Rule
P(A or B) = P(A) + P(B)
Non-mutually exclusive events
can occur simultaneously
General Addition Rule
P(A or B) = P(A) + P(B) – P(A and B)
Conditional Probability
probability that an event happens given that another event is known to have happened: P(A | B)
Conditional Probability Formula
P(A ∩ B) / P(B)
Independent Events
knowing whether or not one event has occurred does not change the probability that the other event will happen
Independent Events Formulas
P(A | B) = P(A | BC) = P(A) OR P(B | A) = P(B | AC) = P(B)
finding intersection (general multiplication rule)
P(A and B) = P(A ∩ B) = P(A) * P(B | A)
Multiplication rule for independent events:
P(A) * P(B)
Mutually Exclusive v Independent
Mutually exclusive are automatically NOT independent
(if one happens, the other is guaranteed not to happen)