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

How many cubic yards of concrete are required, A concrete retaining wall is...

A concrete retaining wall is 120 feet long with ends shaped as given. How many cubic yards of concrete are required to construct the wall? a. 217.8 yd 3 b. 5,880 yd 3

Impediments in time series analysis, Impediments in time series analysis ...

Impediments in time series analysis Accuracy of data in reflecting a) Drastic changes for illustration in the advent of a major competitor, period of war or unexpected chan

Find out the surface area of the solid - parametric curve, Find out the sur...

Find out the surface area of the solid acquired by rotating the following parametric curve about the x-axis. x = cos 3 θ y = sin 3 θ  0 ≤ θ ≤ ?/2 Solution We wil

Arc length - applications of integrals, Arc Length - Applications of integr...

Arc Length - Applications of integrals In this part we are going to look at determining the arc length of a function.  As it's sufficiently easy to derive the formulas that we'

Addition of like terms with same signs, Case 1: Suppose we are given...

Case 1: Suppose we are given expressions like 3abc and 7abc and asked to compute their sum. If this is the case we should not worry much. Because adding like exp

Ratio test - sequences and series, Ratio Test In this part we are goin...

Ratio Test In this part we are going to take a look at a test that we can make use to see if a series is absolutely convergent or not.  Remind that if a series is absolutely c

Solid, The lateral edge of a pyramidal church spire is 61feet.Each side of ...

The lateral edge of a pyramidal church spire is 61feet.Each side of its octagonal base is 22feet. What will be the cost of painting the spire at 2.5 cents a square foot

Hello, I am here to tell you, Alex has a cold.

I am here to tell you, Alex has a cold.

Exponets, what does the three mean in the power ?

what does the three mean in the power ?

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