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Random
Individual outcomes are uncertain, but there is a regular distribution in large repetitions.
Law of Large Numbers
Proportion of times an outcome occurs approaches a single value as repetitions increase.
Probability
A number between 0 and 1 describing long-term outcome proportions of a chance process.
Simulation
The imitation of chance behavior based on a model that accurately reflects it.
Sample Space (S)
The set of all possible outcomes of a chance process.
Event
Any outcome or set of outcomes of a random phenomenon; a subset of S.
Probability Model
Description of a chance process consisting of sample space and probabilities for outcomes.
Tree Diagram
A diagram that helps organize possible outcomes of a multi-stage process.
Multiplication Principle
Determines total outcomes by multiplying the number of choices at each stage.
Complement
Given event A, the complement Aᶜ is the event that A does not occur.
Complement Rule
The probability that an event does not occur is 1 minus P(A): P(Aᶜ) = 1 - P(A).
Mutually Exclusive (Disjoint)
Two events that have no outcomes in common.
Union
All outcomes in event A or event B or both. Symbol: A ∪ B.
Intersection
All outcomes common to both events A and B. Symbol: A ∩ B.
General Addition Rule
P(A ∪ B) = P(A) + P(B) - P(A ∩ B).
Independent Events
Knowing one event occurs does not change the probability that the other occurs.
Venn Diagram
A diagram that visually shows the sample space of joint and disjoint events.
Conditional Probability
The probability that one event happens given that another event has already occurred.