Understand the terms related to probability
Observing an Experiment
It is not always possible to tell the exact outcome of a particular action. Take, for example, a dart board.
A dart is repeatedly thrown toward the dartboard, targeting a random number in each throw. We do not know which number is targeted in a particular throw. What we do know is that there is a fixed group of numbers and each time the targeted number is one of them.
We know that the likelihood of occurrence of an unpredictable event is studied under the theory of probability. So, we can say that there is a certain probability for each number to be targeted in the above experiment.
Let us learn more about probability and the meanings of terms associated with it, for example, ‘experiment’ and ‘outcome’.
The word ‘probability’ has evolved from the Latin word ‘probabilitas’, which can be considered to have the same meaning as the word ‘probity’. In olden days in Europe, ‘probity’ was a measure of authority of a witness in a legal case, and it often correlated with the nobility of the witness.
The modern meaning of probability, however, focuses on the statistical observation of the likelihood of occurrence of an event.
Probability is widely applicable in daily life and in researches pertaining to different fields. It is an important factor in the diverse worlds of share market, philosophy, artificial intelligence or machine learning, statisti…
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