What is probability || basic concept of probability

What is probability || basic concept of probability

In this video I teach about what is probability and basic concept of the probability.
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Probability is a measure of the likelihood of an event occurring. It is a number between 0 and 1 that represents the chance or probability of an event happening.

- A probability of 0 means the event is impossible.
- A probability of 1 means the event is certain.
- A probability between 0 and 1 means the event is possible but not certain.

Probability can be calculated using various methods, including:

1. Classical probability: based on the number of favorable outcomes divided by the total number of possible outcomes.
2. Empirical probability: based on observed frequencies of events.
3. Subjective probability: based on personal beliefs or opinions.

Probability is used in various fields, such as:

1. Statistics
2. Mathematics
3. Engineering
4. Economics
5. Finance
6. Insurance
7. Medicine
8. Social sciences

Some key concepts in probability include:

1. Experiment: an action or situation that can produce a set of outcomes.
2. Outcome: a specific result of an experiment.
3. Sample space: the set of all possible outcomes of an experiment.
4. Event: a set of one or more outcomes of an experiment.
5. Random variable: a variable whose value is determined by chance.

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Sample space
   • How to find the sample space in proba...