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Probability

Terms

Introduction and Summary

Simple Probability

Event  -  A subset of the outcomes of a process. For instance, the set of outcomes {2, 4, 6} when rolling a die is an event that one might call "rolling an even number".
Complementary Events  -  Events whose probabilities add up to 1 . Two events are complementary when one event occurs if and only if the other does not.
Odds  -  The ratio of the probability of an event to the probability of its complement; i.e., the ratio of favorable outcomes to unfavorable outcomes.
Outcomes  -  The possible results of an event. For example, when a die is rolled, the possible outcomes are 1 , 2 , 3 , 4 , 5 , and 6 .
Probability  -  A measure of the likeliness that an event will happen.

Probability =    

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