**Important Concepts and Formulas**

1. Probability is a branch of
mathematics that deals with the chance of occurrence of an event.

2. There are three different situations
that we come across in our daily life. They may be

·
sure
to happen

·
impossible
to happen

·
having
some chances of happening.

3. A random experiment is a process
whose outcome (result) cannot be predicted in advance.

4. Outcomes of an experiment are equally
likely if each has the same chance of occurring.

5. The collection of outcomes is called
an event.

6. The sample space of an event is the
list of all possible outcomes of an event.

8. Symbolically, for finite number of
possible outcomes, Probability of an event E, P(E) = n(E)/n(S), where, n(E) is
the number of favorable outcomes and n(S) is the number of possible outcomes.

9. Probability of an event lies between
0 and 1, inclusive of both.

10. The probability of a sure event is
always 1 and the probability of an impossible event is always 0.

To know more about probability ------- Click Here!

To know more about probability ------- Click Here!