Probability 1


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Probability

Introduction

We all deal with the concept of probability on a daily basis without sometimes even realizing it. What are the chances that we will come to work on time? What is the likelihood that the check we have just written will be sent to our bank before the bank receives the direct deposit from our employer? What are the chances that it will rain tonight? What Are Chances The New Product Will Capture The Market...etc.
So what is Probability?
It is the chance, the likelihood that something will happen.
In statistics, the words chance and likelihood are seldom used to describe the possibilities for an event to take place, instead, the word probability is used along with some other basic concepts which meaning defer from our every day use. Probability is the measure of the possibility for an event to take place. It is a number between 0 and 1. If there is a 100% chance that the event will take place, the probability will be 1 and if it is impossible for it to happen, it will be 0.

Trial

The performance of any individual item is called Trial

Examples

When we toss a coin we take trial. The Result may be head or tail.

Outcome

The result obtain from trial is called outcome.

Example

The customer takes trial of a new product of a company. The customer may be satisfied or not satisfied from the trial of this product.

Experiment

The process of getting information for particular purpose it may be conducted in library, market or field.

Random Experiment

An Experiment is called random it has at least two possible outcome in it

Example

In tossing coin there are two possible out come head and tail

In die thrown there are 6 possible outcomes

Sample Space

The sample space is an exhaustive list of all the possible outcomes of an experiment. Each possible result of such a study is represented by one and only one point in the sample space, which is usually denoted by S.

Examples

Experiment rolling a die once:

Sample space S = {1,2,3,4,5,6}

Experiment Tossing a coin:

Sample space S = {Heads,Tails}

Experiment Measuring the height (cms) of a girl on her first day at school:

Sample space S = the set of all possible real numbers

Quality checker check the product from a lot

Sample Space S ={good, defective}



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