Probability models mathematically describe the outcome of random processes. They consist of two parts:
1) S = Sample Space: This is a set, or list, of all possible
outcomes of a random process. An
event is a subset of the sample space.
2)
A probability for each possible event in the sample space S.
Probability models
Example:
Probability Model for a Coin Toss
S = {Head, Tail}
Probability of
heads = 0.5
Probability of
tails = 0.5