Last part of a three part series in Econometrics at UCSD. These are review notes to catch up on the previous two parts. Set of all possible outcomes Subset of the sample space Real valued function of the outcomes in sample space Discrete, continuous, and mixed Probability p of an event equals long-run percentage of times it will occur The odds that an event will occur are 100p:100(1-p) Describes probabilities at different values a random variable may assume Gives probability for each value of random variable Assigns probabilities to intervals of values