Ch. 11 Propbability - Contemporary Math 1301-007 Tyson Bailey Notes from Mylab, etextbook, as well PDF

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Contemporary Math 1301-007
Tyson Bailey
Notes from Mylab, etextbook, as well as workbook ...

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11.1 Empirical and Theoretical Probabilities

Experiment – controlled operation that yields a set of results Outcomes – possible results of an experiment Event – subcollection of the outcomes of an experiment Empirical Probability – relative frequency of occurrence of an event and is determined by actual observations of an experiment (determining chance of something happening in future by observing past results)

Law of Large Numbers – probability statements apply in practice to a large number of trials not a single trial Theoretical Probability – determined through study of possible outcomes that can occur for given experiment

Equally Likely Outcomes – each outcome of an experiment has the same chance of occurring as any other outcome

11.2 Odds

Odds Against – ratio of the probability that the event will fail to occur to the probability that the event will occur/be a success

Odds in Favor of – ratio of probability that the event will occur to the probability that the event will fail to occur...