Probability of Success
Definition
The probability of success refers to the likelihood or chance that a specific event or outcome will occur.
Analogy
Imagine you are playing a basketball game and you want to know the probability of making a free throw. The probability of success would be the chance that you make the shot.
Related terms
Complement: The complement is the probability of not having a successful outcome. For example, if the probability of success is 0.8, then the complement would be 0.2.
Experimental Probability: Experimental probability is determined by conducting an experiment or observation and calculating the ratio of successful outcomes to total outcomes.
Theoretical Probability: Theoretical probability is based on mathematical calculations and assumes all possible outcomes are equally likely.
"Probability of Success" appears in:
Study guides (1)
Practice Questions (5)
In a binomial distribution, the probability of success for each trial is 0.3. What is the probability of failure for each trial?
What is the probability of getting more than 3 successes in 6 independent trials, given a probability of success of 0.8?
What is the standard deviation of a binomial random variable representing the number of successes in n independent trials with probability of success p?
In a binomial distribution, if the probability of success on each trial increases, what happens to the standard deviation?
If a geometric random variable has a probability of success p = 0.2 on each trial, what is the probability of needing more than 3 trials to achieve the first success?
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