Probability Cubed

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# Probability Cubed - PowerPoint PPT Presentation

Probability Cubed. An Introduction to Simple Probability. Probability Cubed. This die obviously has six sides, numbered 1 through 6. When you toss it, it will always land with one of the numbers up. It is designed to have an equal chance of landing on any of the six numbers.

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## Probability Cubed

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Presentation Transcript

### Probability Cubed

An Introduction to Simple Probability

Probability Cubed
• This die obviously has six sides, numbered 1 through 6. When you toss it, it will always land with one of the numbers up.
• It is designed to have an equal chance
• of landing on any of the six numbers.
• In mathematics, we define this “chance”
• as the “Probability” of landing on a certain
• number.
Probability Cubed
• When this cube is tossed, there
• are six possible outcomes.
• The probability of landing on
• a desired number is simply
• 1 out of 6 or 1/6
Probability Cubed

3

4

5

1

2

6

Take a moment and think about the previous examples… Can you come up with your own definition of “Probability”?

ProbabilityCubed
• Probability is defined as the likelihood or chance of a desired event happening. We usually express probability as a fraction……
• P(event) =
• P(6) = ? P(2) = ? P(Even #) = ?

Desired Outcome

t

Possible Outcomes

Benefit

Risk

ProbabilityCubed

Probability can also be expressed as:

• A decimal number
• A percent
• A phrase or sentence
• Odds
ProbabilityCubed

P(Odd) = 1/2

• A decimal number: .5
• A percent: 50%
• A phrase: Even Chance
• Odds: 3 : 3
ProbabilityCubed

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Phase 1

Phase 2

Phase 3

Phase 4

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Cost

Benefit

Risk

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