What Is Probability
What Is Probability
Sample Space
1 The set of all possible outcomes of an experiment.
Event
2 A subset of the sample space, representing a specific
outcome or set of outcomes.
Probability
3
A numerical measure of the likelihood of an event occurring.
Probability Distributions:
Discrete and Continuous
Discrete Distribution
A discrete probability distribution describes the probabilities of a
finite number of events, such as:
the outcome of a coin toss or
the number of defects in a batch of products.
Continuous Distribution
A continuous probability distribution describes the probabilities
of events that can take on any value within a range, such as
the height of a person or
the temperature of a room.
Probability Calculations: Formulas
and Examples
1 Market Pricing
2 Weather Forecasting
3 Game Simulations
Note