Understanding Probability
Probability theory is a mathematical framework for quantifying uncertainty. It allows us to evaluate how likely events are to happen. 🌟
Some core concepts include:
- Experiment: A repeatable procedure with a set of outcomes.
- Sample Space: The set of all possible outcomes.
- Event: A subset of the sample space.
- Probability: A measure between 0 and 1 that indicates the likelihood of an event.
Law of Large Numbers
This essential theorem suggests that as the number of trials of a random experiment increases, the empirical probability of an event tends to converge to its theoretical probability. 🎲🔢