Axioms of probability are the fundamental rules that define how probabilities should be calculated.
They provide a consistent framework for calculating probabilities of events and outcomes.
How to calculate
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The probability of any outcome in a sample space is a real number between 0 and 1, inclusive.
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The probability of the sample space is 1.
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If two events are mutually exclusive, then the probability that either event occurs is the sum of the probabilities of each event occurring.
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If two events are independent, then the probability of both events occurring is the product of the probabilities of each event occurring.
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The probability of the union of two events is the sum of the probabilities of each event minus the probability of the intersection of the two events.
Examples
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Axiom of Probability: Every outcome of an experiment has a probability between 0 and 1, inclusive. Example: When flipping a coin, the probability of getting heads is 0.5 and the probability of getting tails is also 0.5.
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Axiom of Additivity: The probability of the union of two disjoint events is equal to the sum of the probabilities of the individual events. Example: When rolling a fair 6-sided die, the probability of rolling a 4 or a 6 is 0.5 (0.33 + 0.167).