The Concept of Probability is the likelihood that a specific event or
outcome will happen. A sample space of a probability experiment is all
of the possible outcomes or results of an experiment. An experiment is
when an event is conducted which can produce numerous outcomes. An
outcome is the result of an experiment. These concepts can be useful
as demonstrated in a coin toss. There are two possible outcomes in the
experiment. In this case, the coin can either land on heads or tails. In
my personal experience, I enjoy playing roulette. My desired outcome
would be to win by betting on even. Ideally, I would double my
money in one roll and walk away from the table. There are 38
spaces on an American Roulette wheel. The sample space is 38. The
likelihood of me placing a bet on even, winning, and walking away is
47.37%. The plan for me to double my money this way is not totally
flawed, though the likelihood of me winning on one roll is less than
50%.The Concept of Probability is the likelihood that a specific event or
outcome will occur. This is determined by using mathematical equations
with tests or experiments. Without the listed examples we can not find
probable outcomes. We would have no idea how to create an idea of
what could happen or become. . My personal experience with probability
was when my husband and I tried to conceive our children. I have a
condition called endometriosos I have been battling it since puberty. The
percent or chances of me becoming pregnant are a very low 10
percent chance. I was told the odds were against me that 90% of
people with my degree of this never had children. We consulted a
fertility specialist who helped us conduct our treatment plan or
experiment. We had a lot of hoops to jump. I had to track the
ovulation, record temperatures and activities and then take medication
every 28 days. This increased our probability to 75%. It was a very
long two years with many tears shed but our experiment was successful
and we have two beautiful children. My probability was low but the
odds were in our favor. It's a little more in depth than rolling a
dice and having a set amount of chances at rolling a specific number.
One out of 6 chances that you will get a six or 50 percent chance
that you can get an even number. Probabilities may come from classical
probabilities, such as the experiment with the die and it may come
through experience. The probability of an outcome will always be a
number that is between 0 and 1. An outcome is the result of an
experiment. The set of all possible outcome is defined as the space of
an experiment. Probability is useful to us in many ways such as
business, finances, and just over all life. In my personal work
experience I work in logistics receiving and shipping freight from a
ware house and probability is something I use on a daily basis. One
example of how we utilize probability is by making predictions on how
much to load on a truck based on previous shipments and predicting
the possible weight off the freight. For example, receiving 100 cases of
laundry detergent is a huge difference than receiving 100 cases of
pillows. Having this kind of information helps guide and predict exactly
how much of a shipment can be loaded at a time. The concept of
probability is that a number reflects the chance or likelihood that a
particular event will occur. Probability can be expressed as proportions
that range from 0 to 1, and also as percentages ranging from 0% to
100%. A notion of a probability experiment is a coin toss. This gives
two possible outcomes which are heads or tails. The probability of
flipping heads or tails is ½. A sample space of a probability
experiment is the set of all possible outcomes or results of that
experiment.
In my professional life I work in the fraud department of a very
popular and well known bank as a Sr. Fraud Analyst. My job is to
look at a transaction on an account, analyze the account as a whole,
and make a determination of if there is a risk of fraud on the
customer’s account. Since these decisions are mostly made by me, there
is a probability of the transaction being fraudulent or not. This gives a
probability that I could be correct or incorrect but it is very hard to
keep up with the percentages given the many factors that go into our
metrics.
probability is a chance , a concept like dice rolled to a ramdom
experiment. The result is the outcome of the experiment. For me this
reminds me playing the lotto. You play the lotto and might buy 100
tickets or just one ticket, its all the luck of the draw. The results
are you win or don't by just one ticket or one of those 100 tickets
bought. This also reminds me if you go gambling, you taking a chance
going to a casino to gamble that you might win some money, or
loose what you took to play. The results are all taking a chance and
unpredictable because you don't know whats going to happen until you
get to the casino and play. For my personal experience, if I go to a
casino, and that's maybe, maybe once a year lol! I only play with the
money I intended to play. If I win any money is won in the
process, I keep and don't replay it, so I put it away in my purse.
A reminder I have in mind since I have worked at a casino before,
"The casino always wins" . The point on all this the unpredictablility
and probability of a concept and the outcome is the experiment, like
rolling a dice and taking a chance. Probability is the chances of an
event occurring. Experiment, outcomes and sample space are part of the
probability relation in mathematics. Experiment is when you perform an
event with numerous outcomes. An outcome is what results from the
experiment. Sample space shows all probable outcomes that could be
produced from said experiment. Some everyday life events that could
relate to us through experiment, outcome and sample space could be
weather predictions. Is there a chance it could rain or be sunny all
day? Could it be warm or cold weather? Will it be windy or not?
All of these are examples of our everyday life.In my personal life,
besides looking at weather, I can relate experiment, outcome and sample
space to my time management. Having a 10-month-old son, a husband
who travels with a racing team while going to school full time and
working full time, can be very stressful and harder to manage for most
people. However, I have experimented over the months to determine how
I can effectively manage my time while making the most of it by
finding all the different outcomes of my stress levels and happiness
overall. I had many options to explore and eventually, settled into a
routine that is quite helpful, manageable and less stressful.
The concept of probability is the number of times an event will occur
using the examples from our week's reading this could be picking an
even number out of a deck of cards or rolling an odd number on a
die. The experiment would be picking the card from the deck of cards
and recording your results or rolling the die and recording if it was
an even or odd number. The sample space would be how many
options there would be of the experiment we are doing.In my personal
life I time that I was focused on obtaining a specific outcome would
be getting my son into college. The experiment would be looking at
his grades and deciding if out of state or in state would be better.
Also seeing what schools he was interested in. After going through the
options which was about 6 we narrowed down to what would fit him
the best. The finally outcome was we determined an in state school
would be the best and he ended up picking NAU.
Probability put simply, is a number that reflects the chance or likelihood
that a particular event will occur. When discussing notion, the controlled
environment/conditions are being referenced. This is important to test or
establish a hypothesis, and or is a simple part of the process. The
results gleaned from the experiment itself are the outcomes. Lastly, a
same space is simply a collection of all possible outcomes. Each of the
previously mentioned concepts can be useful, however, to get a
reasonable and just outcome of your research, task, etc., all must be
used together. Let’s take a professional poker player for instance. Are
they playing on chance? Absolutely not. They are mathematicians of their
craft, having honed their skills of assessing probability of draws of
cards based on what is visible at any given moment. They play the
odds of probability.
In my professional experiences, we desire classes achieving high test
scores when we are looking to gain insight regarding ability to leave
the classroom and care for the client needs at a high level. The
experiment is the hypothesis that our training materials contain enough
substance and that our training staff is equipped appropriately to achieve
a high ROI seen through test scores. The ideal outcome is that we
achieve a class average of 95% on final assessments, and the sample
space would increase class over class. We are always focused on class
level data, so as to appropriately assess the instructors, but we are just
as concerned with scoring at a conceptual level too; hence the focus
on total data results too.
When discussing the concepts of probability these definitions of this
week's podcast source breaks down what each notion means and how
they play a part in determining outcomes of many different ranges.
Experiment: An experiment is a procedure that results in a single
outcome that was part of a collection of many possible outcomes.
Outcome: The formula to calculate probability is the number of ways
you can get your desired outcome divided by the total number of
outcomes possible from your experiment. Probability equals P of the
desired outcome equals the number of ways to get your desired outcome
divided by the total number of possible outcomes. Sample Space: Now
the sample space, that is a set or collection of all of the possible
outcomes and we denote that as S.
When thinking about how each of these terms can be applied and used
I think we can apply them to everyday simple tasks such as playing a
board game with our children or placing a bet during times of gambling
at a casino, hopefully trying our hands and luck at a game of craps
or poker (lol). Prediction and the study of probable patterns of outcomes
from how we play each activity allows us to predict if we will win
or lose within these games. For instance if I am playing a game of
monopoly , and it's my turn to throw the dice...I can make a prediction
on if the dice will land on a 2 & 6 , or a 1 & 4. That is if
I play with both dice. If I play with one die then my chances of
predicting the number I will land on maybe a bit more easier. In my
own personal experience I would have to say that each time I go to
the casinos and play the slots I am using each notion of probability. I
Although I am not rolling dice in these type of games I am taking a
chance of wining and using a set amount of money to not only increase
my chances of wining , but still taking a chance of losing as well.
The concept of probability is how likely or how often an event will
occur. An experiment is a procedure that results in one out of a number
of possible outcomes and the set of all possible outcomes is the sample
space. Probability is useful to us because it gives information about the
likelihood of something happening. I think when rolling a dice you can
use probability. An example from my personal life where I focused on
obtaining a specific, desired outcome would be when I was finding out
the gender of my baby when pregnant. There was a 50-50 chance that
I either was having a boy or having a girl. I would also say other
examples from our every day life would include flipping a coin, searching
for car insurance, playing cards, and many more. Believe it or not
probability is used daily in our personal and professional lives. I bet now
you are thinking, wow I didn't know when I am doing such and such
that is basically probability and it happens all the time in our life. The
concept of probability is how likely an event is to occur. The probability
that an event can occur is numbered between 0 and 1. 0 Being the
event to not occur and or no possible and 1 the event to likely occur.
The higher the probability the higher chance the event will occur. When
a probability occurs the results of that procedure is where an experiment
has been done. With the result of that experiment you get an outcome
and between the set of all the possible outcomes received there is the
sample space, the in between. Probability can be useful in card games.
An example I would use will be forecasting the weather. The weatherman
might say that tomorrow there might be 70% chance of rain. This data
was received by an equipment that can collect data that can give the
probability and outcome of historical data to predict what can happen the
same day, hence there will be a chance of 70% of rain tomorrow. zz
When there is uncertainty about an event in future such as a boxing
match or a football game, the concept of randomness and probability
comes into picture. Probability is the likelihood of a particular event. It
is a number lying between 0 and 1 that says how probable it is for
an event to take place. A value close to 0 says that an event is less
likely to occur than an event with its probability value close to 1.
Consider an experiment. An experiment is a series of trials or procedures
which can be repeated any number of times to get desired outcomes. An
experiment can result into number of different outputs/outcomes. All possible
outcomes of an experiment constitute the sample space. Playing rock'em
sock'em robots with my son is about 50/50 2 win or lose. Betting on
sports they give you the odds as well for the probability of certain
outcomes to take place. A probability is a number that reflects the chance
or likelihood that a particular event will occur. Probabilities can be
expressed as proportions that range from 0 to 1, and they can also be
expressed as percentages ranging from 0% to 100%. A probability of 0
indicates that there is no chance that a particular event will occur, whereas
a probability of 1 indicates that an event is certain to occur. A probability
of 0.45 (45%) indicates that there are 45 chances out of 100 of the
events occurring. I had to look it up to get a better understanding, so
I can elaborate. The concept of probability that it will snow, in Houston,
Texas is slim to none, but now it is not true. February 16, 2021"Texas
Deep Freeze". Yes, the Governor Greg Abbott, my opinion did nothing
but blame ERCOT for the disaster. They were all guilty, because they
believe in the probability things of such will not happen, but it did.
The fingers are still being pointed and the blame game has not stopped
like the "Big Lie".It affected me, I was out of work, with rolling power
to no power, because it was stated in legislature over forty years to
break up or create a new power grid. Companies who own the power
lines or delivers it like CenterPoint Energy, got blamed. Now, personally,
I was cold, and irritated by those who make decisions, to do nothing
and get paid a nice salary. I am still ticked off, because those energy
companies and ERCOT are trying to push and put the bill loss on, the
consumer. Not fair, because everything is going up, and I am saying
“Ole Man Inflation”, is an enemy to the working class.These are those
things which happened: power failure, rolling black outs, water shortages,
pipelines bursting, water lines erupted in homes, insurance claims not being
paid out, people are still homeless, and mental and psychological effects.
These are my own personal or professional experiences where you are
focused on obtaining a specific, desired outcome: new power grids, governor,
legislature, rebuild Texan's moral, and a state stimulus to the those who
are affected. The chance was low, but in, addition, federal laws should
be passed to prevent crazy behaviors, which killed people to stop, think
about how the planet is being mistreated, and again, people suffer and
die from it.
there is a very strong relation between probability and time management.
Probability is used on the daily to make decisions when you don't always
have the answer to it. It is a lot better to manage your time when
you have a routine. In a situation like yours with having a family,
school, and multiple other things having the ability to balance time
management is key. Probability is also used very widely in daily life
such as sports, politics, gambling, and playing the lottery as well.
