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Chapter 7: Probability
CHAPTER 7
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Probability
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You should study the topics in this chapter if you need to review
or want to learn about
Relative frequency probability
The Law of Large Numbers
The Addition Rule in probability
Conditional probability
The Multiplication Rule in probability
Independence in probability
7-1 Introduction
Probability statements seem to be everywhere around us. Examples of
probability statements are:
There is a 50-50 chance of me observing a head when a fair coin is
tossed once.
There is a 20% chance of it raining today.
The chance of a particular basketball player making a free throw is
49%.
Just what is meant by ‘chance” in the above statements? Chance is a
measure of uncertainty, and we call this measure probability. In this chapter,
we will study this concept of probability.
We will study the concept of probability by introducing the ideas of
randomness, uncertainty, random experiment, sample spaces and events.
We will discuss the three types of approaches to probability (classical,
relative frequency, and subjective). The Law of Large numbers will be
introduced to relate the concepts of classical and relative frequency