| A | B |
|---|
| Probability | Numerical measure of the likelihood that an event will occur |
| Experiment | Process that generates well defined outcomes |
| Sample space | Set of all experiment outcomes |
| Sample point | Element of the sample space; represents an experimental outcome |
| Tree Diagram | Graphical representation that helps in visualizing a multiple-step experiment |
| 0 <= P (E) <=1 | Each experimental outcome will fit this equation |
| Classical method | Method of assigning probabilities when all the experimental outcomes are equally likely |
| Relative frequency method | Method of assigning probabilities when data are available to estimate the proportion of the time experimental outcome will occur |
| Subjective method | Method of assigning probabilities on the basis of judgment |
| Venn Diagram | Rectangle (sample space) and circles (events) |
