elem stats Probability and Counting Rules

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11 Terms

1
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(quantify) chance of an event occurring

Probability:

2
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  • experiment with an outcome

  • consists of a set of outcomes of a probability experiment.

event

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  • is a chance process that leads to well-defined results called outcomes. 

A probability experiment

4
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the result of a single trial of a probability experiment.

outcome

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  • the set of all possible outcomes of a probability experiment. 

A sample space

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experiment vs sample space

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Sample spaces and probability 

3 basic interpretations of probability


  1. classical probability

  2. empirical probability

  3. Subjective probability

8
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classical probability

  1.  [ random, all things have chance to occur]- can be measured but only by percentage or counting 

    1. Assumes that Chances are equally likely 

    2. Theoretical (only the likelihood); dont have to actually do it just solve 

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Empirical probability

  1. [ it can be counted] 

    1. Relies on actual experience to determine likelihood of outcomes

    2. Actual event 

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Subjective Probability

  1.  [ own opinion based on experience(can also be based on medical data)] - not really accurate 

Based on educated guesses or estimates employing opinions and inexact

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Rounding rule

  • 3 decimal places, round off