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Chapter 7: Probability
Section Review
Summary
The topics covered in this chapter can be investigated through
Relative frequency
The Law of Large Numbers
Sample spaces
Tree diagrams
Union and intersection of events
Conditional probability
The Multiplication Rule in probability
Independence in probability
Care should always be taken when computing the probability of an event. In
certain branches of work in the real world, such as the insurance field, a
great deal of emphasis is placed on probabilities.
All of the concepts discussed in this chapter may be computed and
illustrated using specialized software dedicated to these topics. However,
using such software for the computations encountered in this chapter will be
technology overkill. All that is required in this chapter are simple
calculations. All scientific and graphical calculators will aid directly in the
computations.
e-Self Review