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deals with experiments that yield random short-term results or outcomes yet reveal long-term predicitability

The long-term proportion in which a certain outcome is observed if the probability of that outcome

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Law of Large Numbers

As the number of reperitions of a probability experiment increases, the proportion with which a certain outcome is observedgets closer to the probability of the outcome. 

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Experiment (probability)

any process with uncertain results that can be repeated.

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Sample Space

S, a probability experiment is the collection of all possible outcomes

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is any collection of outcomes from a probability experiment. An event consists of one outcome or more than one outcome. We will denote events with one outcome, sometimes called simple events,ei. In general, events are denoted using capital letters such as E. 


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Rules of Probabilities

1. The probability of any event E, P(E), must be greater than or equal to 0 and less than or equal to 1. That is \(≤\)1.

2. The sum of the probabilities of all outcomes must equal 1. That is, if the sample space S= {e1, e2,....,en}, then P(e1) + P(e2)+.....+P(en)=1


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Probability Model

lists the possible outcomes of a probability experiment and each outcome's probability. 

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the probability of the event is 0