Probability and Stadistics:

Probability and Stadistics:

1. Definition probability:

   • The study of random events, giving the chance that something will happen and how likely is it an event to occur
     • Probability of an event happening = Number of ways it can happen/ Total number of outcomes
   • Is the study of large collections of random processes; how to collect, analyze, summarize and present it.
   • Measurements:
     • A sample space X, which is the set of all possible outcomes of an experiment A collection of events Σ, which are subsets of X A function μ, called a probability measure, that assigns to each event in Σ a nonnegative real number
       • Probability line:
   • Examples:
     • Tossing a coin: When a coin is tossed, there are two possible outcomes: heads (H) or tails (T) We say that the probability of the coin landing H is ½ And the probability of the coin landing T is ½

2. Definition stadistics:

   • Examples:
     • Some include: Sample mean and sample median. Sample variance and sample standard deviation. Sample quantiles besides the median, e.g., quartiles and percentiles.
   • Measurements:
     • Data Levels of Measurement. A variable has one of four different levels of measurement: Nominal, Ordinal, Interval, or Ratio. (Interval and Ratio levels of measurement are sometimes called Continuous or Scale).

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