Fair

Definition

In probability, a fair event or process has no bias and all outcomes have an equal chance of occurring. For example, a fair coin has an equal probability of landing heads or tails.

5 Must Know Facts For Your Next Test

1. A fair die has six faces with each face having an equal probability of 1/6.
2. In a fair game, no player has a systematic advantage over others.
3. Fairness is crucial in statistical experiments to ensure unbiased results.
4. The concept of fairness applies to random sampling where each member of the population has an equal chance of being selected.
5. Fair events are foundational for understanding theoretical probability distributions.

Review Questions

• What is the probability of getting heads when flipping a fair coin?
• Why is fairness important in statistical sampling?
• How does the concept of fairness apply to rolling a standard six-sided die?

Related terms

Probability:

A measure quantifying the likelihood that events will occur, ranging from 0 to 1.

Random Sampling:

A technique where each sample in the population has an equal chance of being chosen.

Unbiased: An attribute indicating that no systematic errors or favoritism exist in data collection or analysis.