In mathematics, particularly in the field of statistics, a "favorable outcome" refers to the result of an event. A favorable outcome divided by all possible outcomes signifies the likelihood of an event's occurrence.
Continue ReadingIn statistics, a sample space is comprised of all possible outcomes that can result from performing trials of an experiment. An event is the set of all elements belonging to the sample space that defines a specific instance. This instance, or favorable outcome, is used to determine the probability of an event happening. The probability of an event that is not likely to occur is 0, while the probability of a favorable outcome that is certain to occur is 1.
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