Week 6

Question 1

There are three ways to assign a probability, P(Oi), to an
outcome, Oi

Answer 1

1. Classical approach: based on equally likely events.
2. Relative frequency: assigning probabilities based on
experimentation or historical data.
3. Subjective approach: Assigning probabilities based on the assignor‟s (subjective) judgment. (We will ignore this one).

Question 2

The sum of the probabilities…?

Answer 2

The sum of the probabilities of all possible outcomes in a
sample space must equal 1.

Question 3

Mutually exclusive events

Answer 3

• *Two events** are said to be mutually exclusive when both
• *cannot occur simultaneously.**