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K.D. Pavate's A Matter of Chance PDF

By K.D. Pavate

ISBN-10: 8172361335

ISBN-13: 9788172361334

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Sample text

But more of that later. With Strings Attached V ui u \ A AH J y i M f ^ 5J \ Vl 1 91 \ \ f u t\ \ £ vr /7 n 4 71 50 n life success often depends on the occurrence of some other supporting events. For instance, if you are in the business of selling light bulbs, you will soon find that the number of bulbs sold (and hence profits made) depends on how well the bulbs have been manufactured and on how reliable they are. If the supervision in the factory has not been strict, then there are bound to be a large number of defective bulbs being manufactured.

This is very much a subjective approach. The probability he indicates is a degree of his belief on the success of a random experiment. It is mainly used to describe social problems. To sum up, when we say P (A) =p, it is to be read as "the probability of an event A is given by p". The index p is a positive number having a value between 0 and 1. On the other hand, we may say "A is probable" or "A is likely". These are expressions used only in common conversation. The concept of assigning probabilities to random variables no doubt took a long time to evolve.

The probability of the intersect can be calculated by adding the number of sample points in the intersect and dividing it by the total number of sample points in the sample space. Since it is an equiprobable sample space to begin with P(MW) is 2 / 7 . When it comes to estimating P(M+W) we have to be a bit careful. If we were to add the number of sample points in event M and event W, we would have included the two sample points in the intersect twice over. In order to avoid this double counting we subtract the probability of the two points in the intersect.

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A Matter of Chance by K.D. Pavate

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