Fair

Definition

Fair describes a situation where all possible outcomes are equally likely to occur. In probability, it means each event has an equal chance of happening.

5 Must Know Facts For Your Next Test

1. In a fair coin toss, the probability of landing heads is equal to the probability of landing tails, both being $\frac{1}{2}$.
2. A fair die has six faces, and each face has an equal probability of $\frac{1}{6}$ of appearing in a single roll.
3. Fairness ensures that no bias influences the outcome probabilities.
4. The concept of fairness is fundamental in creating unbiased experiments and models in statistics.
5. In hypothesis testing, a fair test does not favor either the null or alternative hypothesis.

Review Questions

Related terms

Probability:

A measure quantifying the likelihood that events will occur.

Bias:

Any process at any stage of inference which tends to produce results or conclusions that differ systematically from the truth.

Random Variable: A variable whose possible values are numerical outcomes of a random phenomenon.