Applications With Probability: Fresh Take

  • Calculate conditional probability using Bayes’ Theorem
  • Solve counting problems
  • Calculate the average value of a random event

Bayes’ Theorem

The Main Idea 

Bayes’ Theorem is a fundamental principle in probability theory and statistics that describes how to update the probabilities of hypotheses when given evidence. It serves as a method to revise existing predictions or theories (prior probabilities) in light of new data. The theorem connects the conditional and marginal probabilities of two random events, providing a mathematical framework for updating beliefs based on new evidence. In its simplest form, Bayes’ Theorem calculates the probability of an event based on prior knowledge of conditions that might be related to the event.

[latex]P(A|B)=\frac{P(A)P(B|A)}{P(A)P(B|A)+P(\bar{A})P(B|\bar{A})}[/latex]

You can view the transcript for “Bayes’ Theorem – The Simplest Case” here (opens in new window).

A certain disease has an incidence rate of [latex]2\%[/latex]. If the false negative rate is [latex]10\%[/latex] and the false positive rate is [latex]1\%[/latex], compute the probability that a person who tests positive actually has the disease.

Basic Counting

The Main Idea 

The basic counting rule, also known as the Fundamental Counting Principle, is a key concept in probability that allows for calculating the total number of possible outcomes for a series of events. It states that if there are [latex]n[/latex] ways for one event to occur and [latex]m[/latex] ways for another independent event to occur, then there are [latex]n[/latex] times [latex]m[/latex] ways for both to occur. This principle applies when the outcome of one event does not influence the outcome of another. For example, if you have [latex]3[/latex] shirts and [latex]4[/latex] pants, then you have [latex]3[/latex] times [latex]4[/latex], or [latex]12[/latex], different outfits to choose from.

You can view the transcript for “Probability: The Counting Principle” here (opens in new window).

There are [latex]21[/latex] novels and [latex]18[/latex] volumes of poetry on a reading list for a college English course. How many different ways can a student select one novel and one volume of poetry to read during the quarter?

Suppose at a particular restaurant you have three choices for an appetizer (soup, salad or breadsticks), five choices for a main course (hamburger, sandwich, quiche, fajita or pasta) and two choices for dessert (pie or ice cream). If you are allowed to choose exactly one item from each category for your meal, how many different meal options do you have?

Permutations

The Main Idea

Factorials are mathematical operations applied to non-negative integers. The factorial of a number [latex]n[/latex], denoted as [latex]n![/latex], is the product of all positive integers less than or equal to [latex]n[/latex]. For example, the factorial of [latex]4[/latex] (denoted as [latex]4![/latex]) is [latex]4\times3\times2\times1[/latex], which equals [latex]24[/latex]. Notably, the factorial of [latex]0[/latex] is defined as [latex]1[/latex], reflecting the convention that there is exactly one way to arrange zero items.

Permutations are a key concept in combinatorics and deal with the arrangement of items in a specific order. The principle of permutations is used when order matters – that is, when the arrangement of items makes a difference. For instance, in a race, it matters who finishes first, second, or third. The number of permutations of [latex]n[/latex] objects taken [latex]r[/latex] at a time is denoted by [latex]P(n, r)[/latex] and is given by:

[latex]P(n, r) = \frac{n!}{(n-r)!}[/latex],

where [latex]![/latex] denotes a factorial, the product of an integer and all the integers below it, down to [latex]1[/latex]. For example, the permutations of three different items ([latex]A[/latex], [latex]B[/latex], and [latex]C[/latex]) are [latex]ABC, ACB, BAC, BCA, CAB, \text{ and } CBA[/latex], giving a total of [latex]6[/latex] permutations.

You can view the transcript for “Permutation formula | Probability and combinatorics | Probability and Statistics | Khan Academy” here (opens in new window).

How many ways can a four-person executive committee (president, vice-president, secretary, treasurer) be selected from a [latex]16[/latex]-member board of directors of a non-profit organization?

Combinations

The Main Idea Combinations are a key concept in combinatorics and statistics, used to determine the number of possible selections of items from a larger set, where the order of selection does not matter. For a given set of [latex]n[/latex] items, you can select [latex]r[/latex] items in [latex]C(n, r)[/latex] ways, where [latex]C[/latex] represents the combination function, also denoted as [latex]nCr[/latex] or “[latex]n[/latex] choose [latex]r[/latex]“. This is calculated as [latex]C(n, r) = \frac{n!}{r!(n-r)!}[/latex], where [latex]![/latex] denotes factorial. For instance, if you have [latex]5[/latex] books and you want to choose [latex]2[/latex] to take on a trip, there are [latex]C(5, 2) = 10[/latex] different pairs you could choose.

You can view the transcript for “Introduction to combinations | Probability and Statistics | Khan Academy” here (opens in new window).

A charity benefit is attended by [latex]25[/latex] people at which three [latex]$50[/latex] gift certificates are given away as door prizes. Assuming no person receives more than one prize, how many different ways can the gift certificates be awarded?

A group of four students is to be chosen from a [latex]35[/latex]-member class to represent the class on the student council. How many ways can this be done?

Expected Value

The Main Idea 

The expected value, also known as the expectation or the mean, is a fundamental concept in probability and statistics. It’s essentially a weighted average of possible outcomes of a random variable, where each outcome is weighted by its probability. In other words, the expected value gives the long-term average result of repeated trials of the same experiment. It is calculated by summing the products of each outcome and its associated probability. Importantly, the expected value may not always correspond to an outcome that is actually possible; rather, it gives a measure of the center of the distribution of the random variable.

Expected value notation: [latex]E(x)=\sum_{i}^{n}P(x_i)x_i[/latex]

You can view the transcript for “How To Calculate Expected Value” here (opens in new window).

In the casino game roulette, a wheel with [latex]38[/latex] spaces ([latex]18[/latex] red, [latex]18[/latex] black, and [latex]2[/latex] green) is spun. In one possible bet, the player bets [latex]$1[/latex] on a single number. If that number is spun on the wheel, then they receive [latex]$36[/latex] (their original [latex]$1 + $35[/latex]). Otherwise, they lose their [latex]$1[/latex]. On average, how much money should a player expect to win or lose if they play this game repeatedly?