When assigning probabilities of two simple events, can we assume that each event is always equally likely to occur and, thus assign .5 to each event? Could you provide an example in your explanation?
1. How probabilities might be assigned in an experiment?
We will see by example, how probabilities might be assigned to two simple events and how different probabilities may be assigned to each event.
If we use the term customer to refer to a person who purchases one of the two types of PCs, the experiment can be defined as the entrance of a customer and the observation of which type of PC is purchased. There are two simple events in the sample space corresponding to this experiment. (1) I: ...
This solution explains how to assign probabilities of two simple events through illustrative examples.