Monty Hall Problem. Several years ago, in a column published by Marilyn vos Savant in Parade Magazine, an interesting probability problemwas posed. That problem is nowreferred to as the Monty Hall Problem because of its origins from the television show Let’s Make a Deal. Following is a version of the Monty Hall Problem. On a game show, there are three doors, behind each of which is one prize. Two of the prizes are worthless and one is valuable. A contestant selects one of the doors, following which, the game-show host—who knows where the valuable prize lies—opens one of the remaining two doors to reveal a worthless prize. The host then offers the contestant the opportunity to change his or her selection. Should the contestant switch? Verify your answer.
Compound Probability
Compound probability can be defined as the probability of the two events which are independent. It can be defined as the multiplication of the probability of two events that are not dependent.
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Probability theory is a branch of mathematics that deals with the subject of probability. Although there are many different concepts of probability, probability theory expresses the definition mathematically through a series of axioms. Usually, these axioms express probability in terms of a probability space, which assigns a measure with values ranging from 0 to 1 to a set of outcomes known as the sample space. An event is a subset of these outcomes that is described.
Conditional Probability
By definition, the term probability is expressed as a part of mathematics where the chance of an event that may either occur or not is evaluated and expressed in numerical terms. The range of the value within which probability can be expressed is between 0 and 1. The higher the chance of an event occurring, the closer is its value to be 1. If the probability of an event is 1, it means that the event will happen under all considered circumstances. Similarly, if the probability is exactly 0, then no matter the situation, the event will never occur.
Monty Hall Problem. Several years ago, in a column published by Marilyn vos Savant in Parade Magazine, an interesting
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