The solution would be like this for
this specific problem:
Given:
{0<span>, </span>1<span>, </span>2<span>, </span>3<span>, </span>4<span>}
</span>Success = 2, 3, and 4
Solution:
<span>Success = 3 numbers
Sample = 5
= 3 / 5</span>
= .6
= .6 * 100%
= 60%
So, the estimated probability of a success based from
the randomly generated list of numbers being used to simulate an event is 60%.
To add, the measure of the likelihood that an event
will occur is called probability<span> and it is
quantified as a number between 0 and 1, where, loosely speaking, 0 indicates
impossibility and 1 indicates certainty.</span>
