Numeracy Probability
Numeracy Probability
PROBABILITY
PROBABILITY
The probability of something happening is the likelihood or chance of
it happening. Values of probability lie between 0 and 1, where 0
represents an absolute impossibility and 1 represents an absolute
certainty.
The probability of an event happening usually lies somewhere
between these two extreme values and is expressed either as a proper
or decimal fraction.
Classical Probability
(a) Since only one of the ten horses can win, the
probability of selecting at random the winning horse is
number of winners
number of horses
=1/10 or 0.10
CONTINUATION
7/8
CONTINUATION
The component is now replaced and a second draw is made. The
probability that this component is also satisfactory is
7/8
Hence, the probability that both he first component drawn and the
second component drawn are satisfactory is:
× 7/8
= 49/64
or 0.7656
(b) Without replacement