Terms Related to Probability and Statistics
- Random Experiment: An experiment is a set of steps that gives clear results. A random experiment is one where you can’t predict the exact result.
- Outcome: Outcome means any possible result in a group of results, called a sample space, noted as S. For example, when you flip a fair coin, the sample space is {heads, tails}.
- Sample Space: Sample space is the collection of all possible outcomes in an experiment. Like in a coin flip, the sample space is {heads, tails}.
- Event: An event is any part of a sample space. If an event A happens, it means one of the outcomes in A has occurred. For instance, if event A is rolling an even number on a fair six-sided die, getting 2, 4, or 6 means event A occurred. If you get 1, 3, or 5, event A did not happen.
- Trial: A trial is each time you do an experiment, like flipping a coin. In the coin-flipping experiment, each flip of the coin is a trial.
- Mean: A random variable’s mean is the average of the values it could have during a random experiment.
- Expected Value: The expected value is the mean of a random variable. For instance, if we roll a six-sided die, the expected value is the average of all possible outcomes, which is 3.5.
Probability and Statistics
Probability and Statistics are helpful guides when it comes to studying numbers. Probability helps us figure out how likely things are to happen, like guessing if it will rain. On the other hand, Statistics is about collecting and understanding data, like looking at numbers to learn useful things. Together, they help us make smart decisions and see patterns in the information around us.
This article covers various concepts of probability and statistics. In probability, we will learn definitions, formulas, types of events, Rules of probability, and more topics related to probability.
Table of Content
- What is Probability And Statistics?
- Probability Definition
- Statistics Definition
- Terms Related to Probability and Statistics
- Probability and Statistics Formulas
- Probability Formulas
- Statistics Formulas
- Topics under Probability and Statistics
- Rules of Probability
- Types of Event in Probability
- Statistics Topics
- Probability and Statistics for Engineering Mathematics
- Probability in Engineering
- Statistics in Engineering
- Probability and Statistics – Solved Examples
- Practice Problems on Probability and Statistics
Contact Us