Probability Cheatsheet - Black

FAQ

Q: What is probability?
A: Probability is a measure of the likelihood that an event will occur.

Q: How is probability expressed?
A: Probability is typically expressed as a value between 0 and 1, where 0 represents no chance of the event occurring and 1 represents certainty that the event will occur.

Q: What is the formula for calculating probability?
A: The formula for probability is: Probability = Number of favorable outcomes / Total number of possible outcomes.

Q: What is a favorable outcome?
A: A favorable outcome is an outcome that satisfies the condition or event being considered.

Q: What is a sample space?
A: The sample space is the set of all possible outcomes for an experiment or event.

Q: What is the Law of Large Numbers?
A: The Law of Large Numbers states that as the number of trials or experiments increases, the average of the observed outcomes will converge to the theoretical probability.

Q: What is conditional probability?
A: Conditional probability is the probability of an event occurring given that another event has already occurred.

Q: What is the addition rule of probability?
A: The addition rule of probability states that the probability of the union of two or more events is equal to the sum of their individual probabilities minus the probability of their intersection.

Q: What is the multiplication rule of probability?
A: The multiplication rule of probability states that the probability of the intersection of two independent events is equal to the product of their individual probabilities.

Q: What are independent events?
A: Independent events are events that are not influenced by each other. The occurrence of one event does not affect the probability of the other event.