Activity Which phrase from the box best describes the likelihood of each of these events? You may use each phrase more than one.
Rolling a 9 on an ordinary six sided dice. Impossible A newborn baby being a boy. Even chance A day in a week picked at random ending with the letter y Certain Getting a tail when a coin is flipped. Even chance
It snowing in Philippines. Impossible Rolling a number greater than 1 on an ordinary six sided dice. Likely
Probability- is a mathematical term people use for the likelihood that an event will happen.
Where can we apply Probability?
Weather - Meteorologists aren't able to exactly predicts the weather, so they use instruments and tools to find the likelihood of snow, rain or other weather conditions.
Sports - For example, if a football kicker makes 10 out of 15 field goals throughout the season, the probability of him scoring his next field goal is 10/15 or 2/3.
Insurance - For example, if 20 out of every 100 drivers in your area have gotten hail damage in the last year, then when choosing your car insurance policy you can use probability to understand that there's a 1/5 chance your car will get hail damage.
Games - One example is poker players who know the probability of getting certain hands, like that there's a 42% chance of getting two of a kind versus a 2% chance of getting three of kind.
4 types of probability
Classical The classical or theoretical perspective on probability states that in an experiment where there are X equally likely outcomes, and event Y has exactly Z of these outcomes, then the probability of Y is Z/X, or P(Y) = Z/X. This is often the first perspective that students experience in formal education. For example, when rolling a fair die, there are six possible outcomes that are equally likely, you can say there is a 1/6 probability of rolling each number.
Empirical The empirical or experimental perspective on probability defines probability through thought experiments. For example, if you are rolling a weighted die but you don't know which side has the weight, you can get an idea for the probability of each outcome by rolling the die an enormous number of times and calculating the proportion of times the die gives that outcome and estimate the probability of that outcome.
Subjective The subjective perspective on probability considers a person's own personal belief or judgment that an event will happen. For example, an investor may have an educated sense of the market and intuitively talk about the probability of a certain stock going up tomorrow. You can rationally understand how that subjective view agrees with theoretical or experimental views. In other words, it's the probability that what a person is expecting to happen through their knowledge and feelings will actually be the outcome, with no formal calculations.