STAB22H3 Lecture Notes - Lecture 1: Empirical Probability, American Express, Conditional Probability

• School: UTSC
• Department: Statistics
• Course: STAB22H3
• Professor: Mahinda Samarakoon

Document Summary

The sample space of a random phenomenon is the set of all possible outcomes. An event is an outcome or a set of outcomes of a random phenomenon. That is, an event is a subset of the sample space. Each occasion upon which we observe a random phenomenon is called a trial. The sample space (s) for two tosses of a coin to is {hh, ht, th, tt}. Then exactly one head is an event, call it. When thinking about what happens with combinations of outcomes, things are simplified if the individual trials are independent. Roughly speaking, this means that the outcome of one trial doesn"t influence or change the outcome of another. The law of large numbers (lln) says that the relative frequency of some outcome reaches a limiting value as number of trials becomes large. We call the limiting value the probability of the event. That is, probability is a long-term relative frequency.