Sample Space, The set of all possible outcomes in a probability experiment., Simple Event, An event or outcome that contains only one single element from the sample space., Compound Event, An event that combines two or more simple outcomes from the sample space., Probability, A numerical value between 0 and 1, or 0 percent and 100 percent, that measures how likely an event is to occur. It is calculated by dividing the number of favorable outcomes by the total number of outcomes in the sample space., Probability of a Simple Event, The calculation of the likelihood that one specific single outcome will happen., Probability of a Compound Event, The calculation of the likelihood that an event made of multiple favorable outcomes will happen.

PROBABILITY

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