ASSIGNMENT 1: STATISTICS

Q1. What is probability?

Ans. Probability is the branch of mathematics, which discusses the occurrence of a
random experiment. Probability means possibility.  Since many events cannot be
predicted with absolute certainty, probability helps to predict the likelihood of an event
to occur. The measurement of the possibility of an event is called probability.
Probability in Statistics expresses the chance of an incident occurring. The value of
probability ranges from zero to one. There are several circumstances in which we would
predict the outcome of an event in real life. We may be certain or uncertain about the
outcome of an event. In such instances, we believe that there is a probability that this
event will happen.

For example, when we toss a coin, either we get Head OR Tail, only two possible outcomes
are possible (H, T). But when two coins are tossed then there will be four possible
outcomes,  i.e {(H, H), (H, T), (T, H), (T, T)}.

Probability Formula
The probability formula is the ratio of the number of favourable events to the total
number of events in an experiment.

P(E) = Number of Favourable Outcomes/Number of total outcomes

P(E) = n(E)/n(S)
Here,
n(E) = Number of event favourable to event E
n(S) = Total number of outcomes
Numerically, the probability value always lies between 00 and 11.

Probability is expressed in decimal, percentage, or a fraction and it cannot be a

negative value.

Q2. Discuss additional theory, multiplication theory and conditional theory.