Notes pg64-73 - 1 A B B P(F) P(B) 2 4 0.5 5 2 4 5...

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0.5 1.0 Increasing Likelihood of Occurrence A B 2 4 5 6 3 1 P(F) P(B) 0.44 0.09 0.12 A B 2 4 5 6 3 1 Probability Probability is a numerical measure of the chance, or likelihood, that something will happen. Some basic definitions…. Experiment —a process that generates well-defined outcomes. However, which of the outcomes will be realized is not known prior to conducting the experiment. Examples : Toss a coin. I will either get heads or tails. Toss a die: I will either get 1,2,3,4,5, or 6. Take an exam: I will either get 0,1,2,…,100 Fly from New York to Charlotte: It will take somewhere between 80 and 95 minutes 1
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—The sample space for an experiment is the set of all experimental outcomes. Example: For the die tossing experiment, the sample space is {1,2,3,4,5,6} An element of the sample space is called a sample point . For example, the “3” is a sample point for the die tossing experiment. Assigning Probabilities: 1. The probability assigned to each experimental outcome must be between 0 and 1 inclusive. That is, 2. The sum of the probabilities for all the experimental outcomes equals 1.0 How do we assign probabilities? There are three basic approaches: Classical, Relative Frequency, and Subjective. Classical Method : This method is only appropriate when each experimental outcome is equally likely. Thus, the classical method would work for coin tossing, or dice tossing, or most games of chance. If there are n experimental outcomes, the probability of one of them occurring is 1/n . Examples:
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This note was uploaded on 06/06/2011 for the course MGSC 291 taught by Professor Rollins during the Fall '09 term at South Carolina.

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Notes pg64-73 - 1 A B B P(F) P(B) 2 4 0.5 5 2 4 5...

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