Simple Probability and Predictions

Simple Probability

Prepared by: Muhd Iswandi

WHY STUDY THIS CHAPTER?

• Economist use in predicting the increase or decrease in stock

• Meteorologist use in predicting weather and wind change for the days ahead.

• Businessmen use to review their business profit statistics and to forecast the future profits and earnings.

Experimental Probability

Probability is the measurement of possible occurrence of an event expressed either in the form of fractions or percentages.

Experimental Probability is the Probability obtained from experiment

 $Experimental\ probability\ =\frac{Frequency\ of\ an\ Event}{Number\ of\ Trial}$