Potential Outcome: One specific result from a random experiment
Element \(\omega\): a single potential outcome
- Event: a collection of some outcomes
- empty set \(\emptyset\): no outcomes
- sample space \(S\) or \(\Omega\): consists of all outcomes
- Union \(\cup\): a new set that contains each outcome found in an of the component events
Intersection \(\cap\): a new set that contains only the outcomes found in all of the component event.