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Summary STA1000 Module 1
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This summary provides all the definitions, equations and the most important information for STA1000. It provides all the theory for module 1, in a concise summary, that is easy to understand.

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  • August 29, 2022
  • 7
  • 2021/2022
  • Summary

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STA1000S
Module 1: Probability
Work Unit 1: Introduction to Probability
Equations

number of ways ways of getting selected outcome
P r(outcome) = total number of possible outcomes


payout f or winning number
Win percentage = amount bet across all numbers
× 100


House advantage = 100 − win %

payout
F air payout for a win = win %


expected prof it ∨ loss
% return on amount bet = bet amount



House advantage = − % return


STA1000S 1

, Basics
Roulette uses the numbers 0 → 37
but 0 is 'dead'

There are 37 options

when using probabilities, there are 36 options




Work Unit 2: Set Theory, Probability Axioms &
Theorems

Basics

Sample Space (S)

Universal set

All objects under consideration



Subset ( ⊂ or ⊃)
One set is contained in another set



Empty Set (Ø or {})

Has no members

If the intersection of 2 sets is an empty set:

the sets are mutually exclusive / disjoint



Intersection (∩)

and

The intersection of any 2 sets: the set that contains exactly those elements
which belong to both sets



STA1000S 2

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