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

Example of uniform distribution, Q. Samantha wrote a computer program to r...

Q. Samantha wrote a computer program to randomly generate two-digit numbers between 00 and 99. Let X be the random 2 digit number generated by the computer. Find the distributio

Bottleneck for each product, A company makes 2 products, Product A and Prod...

A company makes 2 products, Product A and Product B. The product characteristics are shown in the following table. Product A B

..percentage, how to express 15/4 into percentage

how to express 15/4 into percentage

Example of implicit differentiation, Example of Implicit differentiation ...

Example of Implicit differentiation So, now it's time to do our first problem where implicit differentiation is required, unlike the first example where we could actually avoid

Example of graphical technique of linear equations, Explain the Graphical T...

Explain the Graphical Technique of Linear Equations by using this figure.

Determine the poisson probability distribution, A manufacturer assures his ...

A manufacturer assures his customers that the probability of having defective item is as 0.005. A sample of 1000 items was inspected. Determine the probabilities of having the give

Explain id amortisation is proper impairment will not arise, If depreciatio...

If depreciation/amortisation is done properly, impairment adjustments will not arise.   Required: Do you agree with the above statement? Critically and fully explain your

Maximax method-decision making under uncertainty, MAXIMAX method Maxima...

MAXIMAX method Maximax method is based upon 'extreme optimism' the decision maker chooses that particular strategy which corresponds to the maximum of the maximum pay off for e

Explain different base numbers, Explain Different Base Numbers? In mult...

Explain Different Base Numbers? In multiplying or dividing two exponential expressions with different base numbers, write out the exponential expressions as products. Since

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