Probability to make Predictions

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What is Probability?

Back

Probability is a measure of how likely an event is to occur, expressed as a number between 0 and 1.

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What does it mean if an event has a probability of 0?

Back

It means the event is impossible and will not occur.

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What does it mean if an event has a probability of 1?

Back

It means the event is certain and will definitely occur.

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How do you calculate the probability of an event?

Back

Probability = (Number of favorable outcomes) / (Total number of possible outcomes).

Front

What is a favorable outcome?

Back

A favorable outcome is an outcome that satisfies the conditions of the event we are interested in.

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What is a sample space?

Back

The sample space is the set of all possible outcomes of a probability experiment.

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What is an event in probability?

Back

An event is a specific outcome or a set of outcomes from a probability experiment.

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What is the difference between independent and dependent events?

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Independent events do not affect each other's outcomes, while dependent events do.

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What is a theoretical probability?

Back

Theoretical probability is the probability calculated based on the possible outcomes in a perfect world.

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What is an experimental probability?

Back

Experimental probability is the probability determined by conducting an experiment and observing the outcomes.