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What is Probability? Video Lecture | Quantitative for GMAT

129 videos|132 docs|146 tests

Timeline

00:00 Introduction
00:44 0 Probability means?
00:53 1 Probability means?
01:16 Probability
01:35 Example - coin toss
02:46 Example - roll a fair die
03:45 Example - pack of cards
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FAQs on What is Probability? Video Lecture - Quantitative for GMAT

1. What is probability?
Ans. Probability is a measure of the likelihood that a specific event will occur. It is represented as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
2. How is probability calculated?
Ans. Probability can be calculated by dividing the number of favorable outcomes by the total number of possible outcomes. This gives the probability of an event occurring as a fraction, decimal, or percentage.
3. What are the different types of probability?
Ans. There are three main types of probability: theoretical probability, experimental probability, and subjective probability. Theoretical probability is based on mathematical calculations, experimental probability is determined through actual experiments or observations, and subjective probability is based on personal judgment or beliefs.
4. How do you interpret probability?
Ans. Probability can be interpreted as a measure of the likelihood or chance of an event occurring. For example, if the probability of rolling a six on a fair die is 1/6, it means that, on average, we can expect to roll a six approximately once in every six rolls.
5. Can probability be greater than 1?
Ans. No, probability cannot be greater than 1. A probability of 1 indicates certainty that an event will occur, while a probability of 0 indicates impossibility. Any value outside this range is not valid in the context of probability theory.
129 videos|132 docs|146 tests

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