Final
Final
CLASS : CSBS
•Definition:
Probability of a given event is a chance of
occurrence of event.
•Examples:
Include simple examples like tossing a coin
or rolling a die to illustrate the concept.
Historical Background
Origins:
Briefly discuss the origins of probability in the
context of gambling and games of chance.
Use:
Science and Engineering,Finance and Economics,Medicine
and Epidemiology,Weather Forecasting,Artificial Intelligence
and Machine Learning,Insurance
Basic Terminology:
Experiment:
An action or process that leads to one or
more outcomes (e.g., rolling a die).
Sample Space:
The set of all possible outcomes (e.g., {1,
2, 3, 4, 5, 6} for a die).
•Classical theory
•Frequency theory
•Axiomatic theory
CLASSICAL THEORY:
Classical probability is based on the idea of
equally likely outcomes. If an experiment has n
equally likely outcomes and m of them are
favorable to an event A, the probability P(A) is
given by:
𝑃(𝐴)=n(a)/n(s).
Frequency theory:
Definition of Probability: In
frequency theory, the probability of an event is
defined as the limit of its relative frequency in
a large number of trials. For an event A, the
probability P(A) is given by:
𝑃(𝐴)=lim𝑛→∞(m/n)
Axiomatic theory:
Axiomatic theory in probability provides a
formal mathematical foundation for probability,
establishing it through a set of axioms or
principles.
1.P(A)≥0
2. P(S)=1
3. P(A∪B)=P(A)+P(B)−P(A∩B)
The Addition Theorem in probability helps calculate the
probability of the union of two events. Here’s a breakdown:
Formula:
P(A∣B)=P(A∩B)/P(B)
Definition:
Events that cannot occur at the same time.
Examples:
Discuss examples like drawing a king or a
queen from a deck of cards.
Medical Studies:
Probability in drug efficacy and medical trials.
Financial Markets:
Risk assessment and prediction in stock trading.
Weather Forecasting:
Calculating the probability of weather events.