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Basic Concepts Of Probability By Statistics Assignment Help Providers My Assignment Services
Basic Concepts Of Probability By Statistics Assignment Help Providers The word probability is derived from a Latin word means “Approval”. It the study of uncertainty and randomness. In the olden days, the concept of probability was related to the game of chance. Probability theory is the base of statistical inference. It is either expressed in terms of percentage and fraction. It is the branch of mathematics that shows how likely some event will occur.
Two Forms of Probability Theoretical Probability - P (E) = no. of favourable outcomes/ Total no.of outcomes Experimental Probability - It is the chance of occurrence of something happening, based on repetition testing and observation of results
Some common terms related to probability Before dealing with questions based on probability it is essential to be familiar with some common terms related to probability. ● Outcome - it is a possible result of any random experiment. ● Experiment - Experiment means a situation dealing with the chance that leads to results called outcomes. ● Equally likely outcomes - It means all outcomes with equal chances of probability.
Some common terms related to probability • Event - Event means one or more than one outcome in an experiment. • Sample Space - Sample space is the set of results of an experiment. • Sample point - The sample point is each element of the sample space
Different terms used to describe the probability of an event For describing the probability of an event there are specific terms that you need to know. • Certain - It means that an event is going to occur. • Likely - It refers that an event will probably occur but not definitely. • Impossible - It means that an event will surely not going to happen. • Unlikely - It means an event will probably not happen or might occur
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