probability
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Statistics and ProbabilityMath/Probability 2020. 1. 15. 22:12
1. Overview Statistics focuses predominantly on samples and incomplete data. Doing so brings some uncertainty to any of the results we reach. This uncertainty is what leads us to rely on some of the most important concepts of probability like expected values or prediction intervals. 2. Description 2.1 Relation Between Statistics and Probability In a way, probability lays the groundwork for stati..
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ProbabilityMath/Probability 2019. 10. 14. 10:07
1. Overview Probability is a measure quantifying the likelihood that events will occur. See glossary of probability and statistics. Probability quantifies as a number between 0 and 1, where, roughly speaking, 0 indicates impossibility and 1 indicates certainty. The higher the probability of an event, the more likely it is that the event will occur. A simple example is the tossing of a fair (unbi..