Terms
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 =  |
|
