Monday, June 18, 2012

Definitions Relevant To Probability

Probability: The chance of an event occurring.

Outcome: One possible result of a probability experiment.

Favourable Outcome: A successful result in a probability experiment.

Independent Event: The outcome of one event that has no effect on the outcome of another event.

Sample Space: All possible outcomes of an experiment.

Random: An event in which every outcome has an equal chance of occurring.

Theoretical Probability: The expected outcome of an event happening.

Experimental Probability: The probability of an event occurring based on experimental results.

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