Approaches To Probability
Approaches To Probability
iii) Sample Space: The set of all possible outcomes of an experiment is called
the sample space for that experiment. For example, in a single throw of a
dice, the sample space is (1, 2, 3, 4, 5, 6).
iv) Collectively Exhaustive Events: It is the set of all possible events that can
result from an experiment. It is obvious that the sum total of probability
value of each of these events will always be one. For example, in a single
toss of a fair coin, the collectively exhaustive events are either head or tail.
Since
Many common experiments in real life also can have events, which have all of
the above properties. The best example is that of a single toss of a coin, where
both the possible outcomes or events of either head or tail coming on top are
collectively exhaustive, mutually exclusive and equally likely events.
Approaches to Probability
There are three approaches to determine probability. These are :
7
Probability and Hypothesis
Testing
a) Classical Approach: The classical approach to defining probability is based
on the premise that all possible outcomes or elementary events of experiment
are mutually exclusive and equally likely. The term equally likely means that
each of all the possible outcomes has an equal chance of occurance. Hence,
as per this approach, the probability of occuring of any event ‘E’ is given as:
P(E)
No. of outcomes where the event occurs [n(E)]
Total no. of all possible outcomes (n(S)]
Example: When we toss a fair coin, the probability of getting a head would
be:
3
Similarly, when a dice is thrown, the probability of getting an odd number is
6
1
or .
2
The premise that all outcomes are equally likely assumes that the outcomes
are symmetrical. Symmetrical outcomes are possible when a coin or a die
being tossed are fair. This requirement restricts the application of probability
only to such experiments which give rise to symmetrical outcomes. The
classical approach, therefore, provides no answer to problems involving
asymmetrical outcomes. And we do come across such situations more often
in real life.
Thus, the classical approach to probability suffers from the following limitations:
i) The approach cannot be useful in such a case, when it is not possible in
the events to be considered “equally likely”. ii) It fails to deal with questions
like, what is the probability that a bulb will burn out within 2,000 hours?
What is the probability that a female will die before the age of 50 years?
etc.
30
P 10,000 0.003
This approach too has limited practical utility because the computation of
probability requires repetition of an experiment a large number of times. This
is practically true where an event occurs only once so that repetitive
occurrences under precisely the same conditions is neither possible nor
desirable.
Impartantly, these three approaches compliment one another because where one
fails, the other takes over. However, all are identical in as much as probability
is defined as a ratio or a weight assigned to the likelylihood of occurrence of
an event.