Terms Used in Probability and Statistics

There are various terms utilised in the probability and statistics concepts, Such as:

• Random Experiment
• Sample Sample
• Random variables
• Expected Value
• Independence
• Variance
• Mean

Let us discuss these terms one by one.

Random Experiment

An experiment whose result cannot be predicted, until it is noticed is called a random experiment. For example, when we throw a dice randomly, the result is uncertain to us. We can get any output between 1 to 6. Hence, this experiment is random.

Sample Space

A sample space is the set of all possible results or outcomes of a random experiment. Suppose, if we have thrown a dice, randomly, then the sample space for this experiment will be all possible outcomes of throwing a dice, such as;

Sample Space = { 1,2,3,4,5,6}

Random Variables

The variables which denote the possible outcomes of a random experiment are called random variables. They are of two types:

1. Discrete Random Variables
2. Continuous Random Variables

Discrete random variables take only those distinct values which are countable. Whereas continuous random variables could take an infinite number of possible values.

Independent Event

When the probability of occurrence of one event has no impact on the probability of another event, then both the events are termed as independent of each other. For example, if you flip a coin and at the same time you throw a dice, the probability of getting a ‘head’ is independent of the probability of getting a 6 in dice.

Mean

Mean of a random variable is the average of the random values of the possible outcomes of a random experiment. In simple terms, it is the expectation of the possible outcomes of the random experiment, repeated again and again or n number of times. It is also called the expectation of a random variable.

Independent Event

When the probability of occurrence of one event has no impact on the probability of another event, then both the events are termed as independent of each other. For example, if you flip a coin and at the same time you throw a dice, the probability of getting a ‘head’ is independent of the probability of getting a 6 in dice.

Mean

Mean of a random variable is the average of the random values of the possible outcomes of a random experiment. In simple terms, it is the expectation of the possible outcomes of the random experiment, repeated again and again or n number of times. It is also called the expectation of a random variable.