Marginal probability, Mathematics

Assignment Help:

Marginal Probability

Probability of event A happening, denoted by P(A), is called single probability, marginal or unconditional probability.

Marginal or Unconditional Probability is defined as the ratio of number of possible outcomes favorable to the event A to the total number of possible outcomes.

P(A) 

= 1428_marginal probability.png

The definition assumes that the elements of the sample space have an equally likely chance of occurring.

Example 

A gambler places a bet on numbers 14 through 25. There are 12 equally likely winning outcomes. The roulette wheel (a gambling instrument which can display any one of 38 equally likely numbers as the winning number) contains 38 equally likely outcomes.

The probability of the wheel stopping on a number from 14 through 25 (say event A) = 12/38 = 0.316.

The probability of losing, i.e. the wheel stopping on numbers other than 14 through 25 (say event B) is the probability of the complement of A occurring. The complement of an event A is defined as  A' , where  A' represents the non-occurrence of event A. So, the probability of  A'  (B) = 26/38 = 0.684.

P (A') = P(B) = 1 - P(A) because A and  A'  are the only possible events and they are mutually exclusive events of the sample of 38 equally likely outcomes. Thus, P(A) + P (A') = 1 and P(A and  A' ) is 0.


Related Discussions:- Marginal probability

Multiplyig, why is multiplying inportent in our lifes

why is multiplying inportent in our lifes

Surface area, Find the amount of sheet metal need to form a conical funnel ...

Find the amount of sheet metal need to form a conical funnel of base radius 30cm with a vertical height of 50cm, allowing for 0.5cm overlap. Find the total surface area?

Value of perfect information, Value of perfect information This relates...

Value of perfect information This relates to the amount that we would pay for an item of information such would enable us to forecast the exact conditions of the market and act

How much is the volume increased, If the lengths of all sides of a box are ...

If the lengths of all sides of a box are doubled, how much is the volume increased? a. 2 times b. 4 times c. 6 times d. 8 times d. The volume of a box is taken by mu

State test, how can i study for the math state test

how can i study for the math state test

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd