Chapter 12: From Randomness to Probability Flashcards
Define ‘Random phenomenon’.
A phenomenon is random is we know what outcomes could happen, but not which particular values will happen.
Define ‘Trial’.
A single attempt or realization of a random phenomenon’.
Define ‘Outcome’.
The value measured, observed, or reported for an individual instance of a trial.
Define ‘Event’.
A collection of outcomes. Usually, we identify events so that we can attach probabilities to them. We denote events with bold capital letters, such as A, B, or C.
Define ‘Sample space’.
The collection of all possible outcome values. The sample space has a probability of 1.
Define ‘Law of Large Numbers’.
The relative frequency of an event in repeated INDEPENDENT trials gets closer and closer to its true or long-run relative frequency as the number of trials increases. Note that it speaks only of long-run behavior and we need to be careful not to misinterpret. Even when we’ve observed a string of heads, we shouldn’t expect extra tails in subsequent coin flips.
Define ‘Independence (informally)’.
Two events are independent if learning that one event occurs does not change the probability that the other event occurs.
Define ‘Probability’.
The probability of an event is a number between 0 and 1 that reports the likelihood of an event’s occurrence. We write P(A) for the probability of the event A.
Define ‘Empirical probability’.
The long-run relative frequency of an event’s occurrence. The Law of Large Numbers assures us of its existence, when we can perform repeated independent trials.
Define ‘Theoretical probability’.
The probability that comes from a model (such as equally likely outcomes).
Define ‘Personal probability’.
A probability that is subjective and represents your personal degree of belief.
Define ‘Probability assignment rule’.
A probability is a number between 0 and 1. For any event A, 0 ≤ P(A) ≤ 1.
Define ‘Total probability rule’.
Since the probability of any event is between 0 and 1, inclusive, the entire sample space must be 1. P(S) = 1.
Define ‘Disjoint or mutually exclusive’.
Two events are disjoint if they share no outcomes in common. If A and B are disjoint, then knowing that A occurs tells us that B cannot occur. Disjoint events are also called mutually exclusive events.
Define ‘Addition rule for disjoint events’.
If A and B are disjoint events, then the probability of A or B is P(A + B) = (P(A) + P(B).