UCX_BASIC PROBABILITY_RV - STATISTICS 2 - BASIC PROBABILITY...

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STATISTICS 2 - BASIC PROBABILITY o A random experiment is a process of making an observation or a measurement (called an outcome ) in which the outcome cannot be predicted in advance with complete certainty. Therefore, we assign a probability (likelihood of occurrence) to each of the possible outcomes or groupings of outcomes. o Sample Space ( S ) is the set of all possible outcomes for a random experiment. o An event is any subcollection of outcomes; it is simply a subset of the sample space. The event A is said to “occur” if the outcome falls in the set A . So each time an outcome is observed, a given event A either occurs or does not occur. o P(A) = the probability of the event A = the long-run relative frequency of occurrence of the event A = the proportion or fraction of times that the event A occurs in a large number of independent repeated trials of the experiment. (Another type of probability is based on a subjective assessment instead of on data.) The simplest rules of probability
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UCX_BASIC PROBABILITY_RV - STATISTICS 2 - BASIC PROBABILITY...

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