STATS 425 Lecture Notes - Lecture 8: Coin Flipping, Sample Space, Stock Market
Document Summary
Chapter 1: uncertainty and the axioms of probability. Random: a process of which the outcomes cannot be predicted with certainty: examples of random events: The random process gives rise to an outcome. Sample space: the set of all possible outcomes. A coin can land heads or tails so we set s={h, t} If we take the outcome to be a sequence of 3 numbers. An event e is a subset of s. the event occurs if the process produces an outcome in e. The compliment e^c is the set of outcomes that were not in e. e^c is the event that e does not occur. The intersecion ef is the event that e and f occur. The union e or f is the event that e or f occurs, or both. E is a subset of f if all outcomes in e are also in f: occurrence of e implies the occurrence of f.
