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 ?