Business Studies, asked by kartikjagota, 7 months ago

write notes of some basic terms of probability. write answer marked brainlist​

Answers

Answered by diksharma
0

Answer:

Definitions:

Experiment: a process by which an outcome is obtained, i.e., rolling a die.

Sample space: The set S of all possible outcomes of an experiment.

i.e. the sample space for a die roll is {1, 2, 3, 4, 5, 6}

Event: Any subset E of the sample space. i.e. Let

E1 = An even number is rolled.

E2 = A number less than three is rolled.

Probability and Odds:

The probability of an event is a measure of the likelihood that the event will occur.

If an experiment’s outcomes are equally likely to occur, then the probability of an event E is the number of outcomes in E divided by the number of outcomes in the Sample Space.

P(E) = n(E)/n(S)

This chapter only discusses experiments with equally likely outcomes.

Note: Probability = (success)

(total)

Odds in favor of an event E are the number of ways the event can occur compared to the number of ways the event can fail.

O(E) = n(E) : n(E’) Odds = (success) : (failure)

House odds vs. True odds

What the casino pays vs. what you should get

Example 1:

On a Roulette wheel, find:

a) the probability of getting a red number

b) the odds of getting a red number

c) the probability of getting number 20

d) the odds of getting number 20

e) the probability of getting a number between 1 and 12 inclusive

f) the odds of getting a number between 1 and 12 inclusive

a) 18/38 = 9/19 b) 18: 20 = 9: 10

c) 1/38 d) 1: 37

Answered by namruthamuthuraj1812
0

Answer:

hi mate.....

Explanation:

Definitions:

Experiment: a process by which an outcome is obtained, i.e., rolling a die.

Sample space: The set S of all possible outcomes of an experiment.

i.e. the sample space for a die roll is {1, 2, 3, 4, 5, 6}

Event: Any subset E of the sample space. i.e. Let

E1 = An even number is rolled.

E2 = A number less than three is rolled.

Probability and Odds:

The probability of an event is a measure of the likelihood that the event will occur.

If an experiment’s outcomes are equally likely to occur, then the probability of an event E is the number of outcomes in E divided by the number of outcomes in the Sample Space.

P(E) = n(E)/n(S)

This chapter only discusses experiments with equally likely outcomes.

Note: Probability = (success)

(total)

Odds in favor of an event E are the number of ways the event can occur compared to the number of ways the event can fail.

O(E) = n(E) : n(E’) Odds = (success) : (failure)

House odds vs. True odds

What the casino pays vs. what you should get

Example 1:

On a Roulette wheel, find:

a) the probability of getting a red number

b) the odds of getting a red number

c) the probability of getting number 20

d) the odds of getting number 20

e) the probability of getting a number between 1 and 12 inclusive

f) the odds of getting a number between 1 and 12 inclusive

a) 18/38 = 9/19 b) 18: 20 = 9: 10

c) 1/38 d) 1: 37

e) 12/38 = 6/19 f ) 12 : 26 = 6 : 13

Probability can be found theoretically or empirically. Up to now, we have used theory.

Empirical means to scientifically do each experiment and record the observations.

If we flip a coin and record how many heads comes up, then it is called relative frequency of heads. The results may not be exactly the ½ probability that theory provides, but if the coin is flipped a large number of times, the relative frequency will come close to the ½ probability. This is called the Law of Large Numbers.

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