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

Original price of the mittens was $10 what is the new price, A pair of mitt...

A pair of mittens has been discounted 12.5%. The original price of the mittens was $10. What is the new price? Find 12.5% of $10 and subtract it from $10. Find out 12.5% of $10

Horizontal asymptotes, Horizontal asymptotes : Such as we can have vert...

Horizontal asymptotes : Such as we can have vertical asymptotes defined in terms of limits we can also have horizontal asymptotes explained in terms of limits. Definition

Calculate the investment - apr 4 percent, Suppose you start saving today fo...

Suppose you start saving today for a $55,000 down payment that you plan to make on a house in 7 years,  assume that you make no deposits into the account after the initial deposit,

Properties of radicals, If n is positive integer greater than 1 and a & b b...

If n is positive integer greater than 1 and a & b both are positive real numbers then, Consider that on occasion we can let a or b to be negative and yet have these propert

Properties of exponential form, Properties 1.   The domain of the logar...

Properties 1.   The domain of the logarithm function is (0, ∞ ) .  In other terms, we can just plug positive numbers into a logarithm! We can't plug in zero or a negative numbe

Solid Mensuration, The two sides of a triangle are 17 cm and 28 cm long, an...

The two sides of a triangle are 17 cm and 28 cm long, and the length of the median drawn to the third side is equal to 19.5 cm. Find the distance from an endpoint of this median to

What are natural numbers and whole numbers, What are Natural Numbers and Wh...

What are Natural Numbers and Whole Numbers? Natural numbers are the numbers that you "naturally" use for counting: 1, 2, 3, 4, ... The set of whole numbers is the set of

Formulas, how many formulas there for the (a-b)2

how many formulas there for the (a-b)2

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