What is the term used to describe a set of all possible outcomes in a probability event?

The term that describes a set of all possible outcomes in a probability event is known as the sample space. In probability theory, the sample space encompasses every potential result that can occur in a given experiment or event. For example, if you are flipping a coin, the sample space would be {Heads, Tails}, representing all the possible outcomes of that action.

Understanding the sample space is crucial as it lays the foundation for calculating probabilities. By identifying all possible outcomes, one can then analyze specific events within that space and determine their likelihood based on the total number of outcomes. This term is standard in statistics and probability and is essential for anyone studying these concepts.