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 function, Example  Suppose the demand and cost functio...

Example  Suppose the demand and cost functions are given by          Q = 21 - 0.1P and C = 200 + 10Q Where,          Q - Quantity sold

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?

What division means, WHAT DIVISION MEANS :  Ask any primary school teacher...

WHAT DIVISION MEANS :  Ask any primary school teacher which areas in arithmetic the children find very difficult. Division will probably top her list. This is not surprising. If y

Fundamental theorem of calculus, Fundamental Theorem of Calculus, Part I ...

Fundamental Theorem of Calculus, Part I As noted through the title above it is only the first part to the Fundamental Theorem of Calculus. The first part of this theorem us

Convert the points into cartesian and polar coordinates, Convert each of th...

Convert each of the following points into the specified coordinate system.  (a) (-4, 2 Π /3) into Cartesian coordinates. (b) (-1,-1) into polar coordinates.  Solution

Show that the height of the opposite house, From a window x meters hi...

From a window x meters high above the ground in a street, the angles of elevation and depression of the top and the foot of the other house on the opposite side of the street  are

Logs, log4^(x+2)=log4^8

log4^(x+2)=log4^8

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