[Math] Number of possible events is $2^N$ ( $N$ is the number of outcomes )

probabilityprobability theory

A probability space is a random process or experiment with
three components:

$Ω,$ the set of possible outcomes $O$

*number of possible outcomes = $|Ω| = N$

*$F$, the set of possible events $E$
– an event comprises $0$ to
$N$ outcomes

  • number of possible events
    = $| F | = 2^N$

Here I am not able to extract the exact meaning of number of possible outcomes. In case of tossing a coin, we have only $2$ outcomes. So, $N = 2$. So, either we have head or tail. According to the above definition, $|F| = 2^N = 2^2 = 4.$ How come this formula or axiom is valid in probability space ?

Best Answer

The answer by drhabs is wrong, his answer misses the null set. 2^n comes from the fact that for each element in your set you have 2 choices, to either include or not include it in a subset. For the example Ω={H,T} you will have the following subsets:

  • {H,T} (every set is a subset of it's self)
  • {H}
  • {T}
  • {} (null set)
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