Probability Flashcards
What is probability ?
The chance or likelihood that an event will occur
How can you express probability in a formula ?
(Desired or winning outcomes )/ possible outcomes
What is the highest probability an event can have ?
1, 100% , 1/1
What is the lowest probability an event can have ?
0, 0%, 0/1
How do you calculate the probability that an event wont occur ?
1 - the probability that it WILL occur
Probability of winning + probability of losing =
1
How do you calculate the amount of numbers in a set if the set includes those two numbers
Difference of the two numbers + 1
How do you solve an “and” probability?
Multiply the probabilities of each event together
What is the butterfly effect when it comes to probability ?
The probability of subsequent selections will be affected
Be careful of problems that imply a sequence of events and ask for the probability of a single event ….
Consider the sequence of events that would have to occur for that single event to occur
How do you solve or probabilities?
Add the probabilities of the individual events involved
Probability questions that ask about “more than” , “less than” or “at least” signify what?
The question is an OR probability
What is the equation for or probabilities that can occur together i.e. pick something white, or a t shirt , and their is a white t shirt that can be selected
Can occur together= OR - AND
How do you determine the probability that a certain outcome occurs at least once?
Subtract the probability that the event never occurs from one
When you have probabilities problems where multiple scenarios can lead to a desired outcome what do you do?
Add the probabilities of each scenario