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## Probability Cubed

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### 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

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Cost

Benefit

Risk

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