Basic Probability Concepts
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Key Questions

Chances of occurrence
Probability is simply a numerical prediction of some happening. Lets say that if I roll a die, there will be a 1/6 probability that it will end up on 1 on the die face.

It's a matter of converting between a fraction and a percentage .
Remember that the word 'percent' really means 'per hundred'.
(and you are in fact converting from dollars to cents and back)So if you have a probability of
#0.11# you can rewrite this as
#0.11=11/100=11%# (or#$0.11=11 cents# )And the other way around, if you have a chancepercentage of
#45%# you can rewrite this as:
#45%=45/100=0.45# (or#45cents=$0.45# )The rule:
Fraction#># percentage = times 100
Percentage#># fraction = divide by 100That's all there is to it.
One more thing:
In probabilities you never have more than#$1# or#100%# 
Answer:
In Probability we use the term Bernoullian trials for independent trials.
Explanation:
A sequence of trials are said to be Bernoullian if
(i) there are only two outcomes for each trial ( say a success or a failure)
(ii) Consecutive trials in the sequence are independent
and (iii) probability of success in every trial is a constant (namely p)
It is clear that no trial depends on the previous one here.
Consider drawing of two cards consecutively from a well shuffled deck of cards. Consider the event that cards are both diamonds. If the draw is with replacement the trials are independent ( Bernoullian) . Otherwise they are dependent.
In the former case the probability is ( 1/4) x (1/4)
In the later it is( 1/4) x (12/51)
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