Prob and Stats Unit 1 Vocab (1.1-1.4)

Probability

The likelihood of an event happening

Theoretical (Classical) Probability

Probability that is found using the ratio of the number of favorable outcome and the number of outcomes in the sample space. Soley based on the sample space

Experimental (Empirical) Probability

Probability that is based on the results of an experiment

Subjective Probability

Uses past experiences, judgement, or opinion to estimate the likelihood that an event will occur. based on intuition

Experiment

Sample Space

All of the possible outcomes

Event

One or more outcomes of interest. what we are looking for when we look at the results of a trial or experiment

Outcome

Result of an experiment

Simple Event

An event with one and only one outcome of interest

Compound Event

An event in which there is more than one outcome of interest. EX: probability of rolling a number less than 5 on a six-sided die, flipping two coins and getting heads on each

Tree Diagram

Fundamental Counting Principle

Permutation

Combination

Factorials

Venn Diagram

Set

Complement

Union

Intersection

Contingency Table

Addition Rule

Mutually Exclusive

Multiplication Rule

Dependent Events

Independent Events