Write a short note on Probability.
Addition Rule of Probability
It simply refers to the likelihood of an event taking place whenever the occurrence of an event is uncertain. The probability of a single event can be calculated by dividing the number of successful trials of that event by the total number of trials.
Expected Value
When a large number of trials are performed for any random variable ‘X’, the predicted result is most likely the mean of all the outcomes for the random variable and it is known as expected value also known as expectation. The expected value, also known as the expectation, is denoted by: E(X).
Probability Distributions
Understanding probability is necessary to know the probability distributions. In statistics, probability is how the uncertainty of an event is measured. This event can be anything. The most common examples include tossing a coin, rolling a die, or choosing a card. Each of these events has multiple possibilities. Every such possibility is measured with the help of probability. To be more precise, the probability is used for calculating the occurrence of events that may or may not happen. Probability does not give sure results. Unless the probability of any event is 1, the different outcomes may or may not happen in real life, regardless of how less or how more their probability is.
Basic Probability
The simple definition of probability it is a chance of the occurrence of an event. It is defined in numerical form and the probability value is between 0 to 1. The probability value 0 indicates that there is no chance of that event occurring and the probability value 1 indicates that the event will occur. Sum of the probability value must be 1. The probability value is never a negative number. If it happens, then recheck the calculation.
Write a short note on
Event: In probability theory, an event is an outcome or a set of outcomes of a random experiment to which a probability is assigned. A single outcome is an element of a sample space and different events in a random experiment are generally not equally likely, since they may include very different groups of outcomes.
The probability could be defined as a number that always fall between 0 and 1 where 0 implies the impossibility of an event to happen and 1 implies the possibility of an event to happen.
It could be defined as the number of favorable outcomes divided by the number of possible outcomes, where the outcomes are equally likely. The formula to compute the probability is:
As stated above, probability always lies between 0 and 1. It can be assumed to take any values between the two values 0 and 1. The values beyond 0 and above 1 are not acceptable at all for an event. So, if the probability of any event comes negative and above 1. Then it could be stated that the computed probability is not correct.
Step by step
Solved in 4 steps
