Basic Probability Terms

In this video, I discuss some basic terms of probability. I start with the definition of a random experiment. I then show how the sample space is the set of all possible outcomes. I give an example of calculating the probability of a single event and discuss how the sample space grows with a compound event.

Further, I discuss the three types of probabilities. Empirical probabilities are based on past evidence, classical probabilities are known a priori, and subjective probabilities rely on our best judgement. #probability #math