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What is the definition of a favourable event?

An event which is giving a result in ones favour


What is the result of dividing the number of successful outcomes by the number of possible outcomes?

The result of dividing the number of successful outcomes by the number of possible outcomes is known as the probability of an event. This value ranges between 0 and 1, where 0 indicates that the event cannot occur, and 1 indicates that the event is certain to occur. Probability can also be expressed as a percentage by multiplying the result by 100.


What is the outcome of one event that does not depend on the outcome of another event?

An event whose outcome does not depend on another event is considered independent. For example, flipping a coin and rolling a die are independent events; the result of the coin flip (heads or tails) does not affect the result of the die roll (1 through 6). Thus, the outcome of one event, like flipping a coin, can occur regardless of the other event's outcome. This independence allows for a straightforward calculation of probabilities for combined events.


What is a specific outcome or type of outcome?

A specific outcome is the result of a particular action or event. The outcome of an action would vary greatly depending on the specific action.


How do you calculate base rate?

The base rate is calculated by dividing the number of occurrences of a specific event by the total number of opportunities for that event to occur within a given time frame. This can be expressed as a percentage by multiplying the result by 100. For example, if 20 out of 100 trials result in success, the base rate would be 20%. This metric helps in assessing the likelihood of an event happening based on historical data.