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Probability
A value between zero & one, inclusive, describing the realative possibility (chance or likelyhood) an even will occur

Experiment
A process that leads to the occurence of one and only one of several possible observations

Outcome
A particular result of an experiment

Event
A collection one or more outcomes of an experiment

Classical Probability
Outcomes of an experiment are equally likely.

Mutually Exclusive
The occurance of one event means that none of the other events can occur at the same time

Collectively Exhaustive
At least one of the events must occur when an experiment is conducted

Empirical Probability
The probability of an event happening is the fraction of the time similar events happened in the past

Law Of Large Numbers
Over a large # of trials the empirical probability of an event will approach its true probability

Subjective Concept Of Probability
The likelyhood (probability) of a particular event happening that is assigned by an individual based on whatever info is available.

Special Rule Of Addition
P(A)+P(B)


General Rule Of Addition
P(A)+P(B)P(A/B)

Joint Probability
A probability that measures the likelyhood two or more events will happen concurrently.

Special Rule Of Multipcation
P(A)P(B(

Independence
The occurance of one event has no effect on the probability of the occurance of another event.

General Rule of Multiplication
P(A)P(B/A)

Dependent
One out come relies on another

Conditional Probability
The probability of a particular event occuring, given that another event has occured.

Contingency Table
A table used to classify sample observatios according to two or more identifiable characteristics.

Tree Diagram
Graph that is helpful in organizing calculations that invlove several stages

Prior Probability
The intial probability based on the present level of information

Posterior Probability
Arevised probability based on additional information.

Mulitplication Formula
If there are M ways of doing one thing and n ways of doing another thing, there are MXN was of doing both

Permutation Formula
Any arrangement of r objects selected from a single group of n possible objects.