Did you know the origins of Probability can be linked to gambling during the 17th century? The theory of probability may have been discovered to help gamblers, but now it assists so many of our everyday activities. The chances of your school team winning the tournament, the possibility of rain on a given day, the likelihood of your winning the lottery, are all applications of probability. Let us learn a few more interesting topics regarding probability.
- Introduction to Probability
- Probability of an Event
- Events and its Types
- Events and Its Algebra
- Independent Events
- Conditional Probability
- Basic Theorems of Probability
- Multiplication Theorem on Probability
- Baye’s Theorem
- Random Variable and Its Probability Distribution
- Mean and Variance of Random Distribution
- Bernoulli Trials and Binomial Distribution
- How To Calculate Dice Probabilities
Q1. How can we calculate the probability?
A1. We can calculate the probability of an event by dividing it by the numbers of possible outcomes. Furthermore, this gives us the probability of a single event occurring. E.g. To get an outcome of 3 on a dice we have to roll it. And the number of event is1 and total outcomes are 6.
Q2. What re the basic rules of probability?
A2. Five basic rules of probability are:
- First Rule: The possibility of happening of an event lies between 0 and 1.
- Second Rule: Sum of all probable possible outcomes is 1.
- Third Rule: There is a probability that a certain event will not take place.
- Fourth Rule: Difference between happening and non-happening of an event is an important one.
- Fifth Rule: It says that P(A or B) = P(A) + P(B) – P(A and B).
Q3. What are the three types of probability?
A3. The three types of probability are: classical, relative, and subjective probability.
Q4. Is probability applicable in real life?
A4. Probability is the chance that something will occur, such as picking a piece of green candy from a bag, drawing an ace from a deck of card etc. Hence, there is probability everywhere we go so it is applicable in real-life.