Probability

Introduction to Probability

• Probability is a measure of the likelihood of an event occurring.
• It is a value between 0 and 1, where 0 represents an impossible event and 1 represents a certain event.

Probability Terminology

• **Sample Space**: The set of all possible outcomes of an experiment.
• **Event**: A subset of the sample space.
• **Mutually Exclusive Events**: Events that cannot occur simultaneously.
• **Complementary Events**: Two events that together make up the entire sample space.

Calculating Probability

• The probability of an event is calculated as the ratio of the number of favorable outcomes to the total number of possible outcomes.
• Probability = Number of favorable outcomes / Total number of possible outcomes.

Types of Probability

• **Theoretical Probability**: The probability calculated based on the underlying mathematical model.
• **Experimental Probability**: The probability calculated based on the results of an experiment.