STATS 250 Lecture 5: Lecture 5 - Chapter 3 - Probablility
49
STATS 250 Full Course Notes
Verified Note
49 documents
Document Summary
There are a few ways to think about probability: Personal or subjective probability degree to which an individual believes an event will happen. Ex: my personal probability is that michigan will win against penn this weekend. Long term relative frequency the proportion of times an event occurs if the random experiment is repeated many times. Ex: the proportion of thousands of coin flips that land on heads will be . 5. Basket model the proportion of balls in the basket that have a certain characteristic. Ex: approximately 3 out of 10 balls will be blue. A probability statement is not a statement about the individual, but about the population. The probability of any event is between 0 and 1. Once you see the outcome, there is no longer a probability for that event. Complement rule the complement of event a: p(ac) = 1 p(a) Ex: not being satisfied is the complement of being satisfied.
