Actuarial Notes

Set Function

Study guide: Exam P-1

A set function f is a function that maps a collection of subsets \mathcal{F} of a set \mathcal{S} to the real numbers \mathbb{R}.

f:\mathcal{F} \to \mathbb{R}

Probability as a Set Function A probability function assigns a real number between 0 and 1 to Events (sets of outcomes).

Answer For example, when rolling a fair die (all six outcomes equally likely), the probability of an even number is P(\{2,4,6\}) = \frac{3}{6} = 0.5. We can assign a probability to any event in the sample space S=\{1, 2, 3, 4, 5, 6\}.