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Basic Probability Terms
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Sample Space
The set of all possible outcomes of a probability experiment.
Outcome
A possible result of a probability experiment; a single result from a set of all possible results.
Event
A set of outcomes of an experiment to which a probability is assigned.
Expected Value
The long-run average value of repetitions of the experiment it represents.
Probability
A measure of how likely an event is to occur, expressed as a number between 0 and 1, inclusive.
Random Variable
A variable whose value depends on the outcomes of a random phenomenon.
Probability Distribution
A mathematical function that provides the probabilities of occurrence of different possible outcomes in an experiment.
Independent Events
Two events are independent if the occurrence of one event does not affect the probability of the other.
Permutation
The number of ways in which a set or number of things can be ordered or arranged.
Mutually Exclusive Events
Two events are mutually exclusive if they cannot occur at the same time.
Variance
A measure of the spread between numbers in a data set; how far the values lie from the mean.
Conditional Probability
The probability of an event (A) given that another event (B) has already occurred.
Standard Deviation
The square root of the variance, representing the dispersion of a dataset relative to its mean.
Complementary Events
Two events are complementary if one event occurs if and only if the other event does not occur.
Combination
The number of ways in which a set or number of things can be selected, regardless of the order in which they are selected.
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