Learn Probability thoroughly, Master all Probability concepts thoroughly.
Probability is the study of random events. It is used in analyzing games of chance, genetics,weather prediction, and a myriad of other everyday events. Statistics is the mathematics we use to collect, organize,and interpret numerical data. It is used to describe and analyze sets of test scores, election results, and shoppers’ preferences for particular products.
Probability and statistics are closely linked because statistical data are frequently analyzed to see whether conclusions can be drawn legitimately about a particular phenomenon and also to make predictions about future events. For instance, early election results are analyzed to see if they conform to predictions from pre-election polls and also to predict the final outcome of the election.
Understanding probability and statistics is essential in the modern world, where the print and electronic media are full of statistical information and interpretation. The goal of mathematical instruction in this area should be to make students sensible, critical users of probability and statistics, able to apply their processes and principles to real-world problems. Students should not think that those people who did not win the lottery yesterday have a greater chance of winning today! They should not believe an argument merely because various statistics are offered. Rather, they should be able to judge whether the statistics are meaningful and are being used appropriately. The concept has been given an axiomatic mathematical derivation in probability theory,which is used widely in such areas of study as mathematics, statistics, finance,gambling, science, artificial intelligence/machine learning and philosophy to, for example,draw inferences about the expected frequency of events. Probability theory is also used to describe the underlying mechanics and regularities of complex systems.
Probability is a measure of the expectation that an event will occur or a statement is true.Probabilities are given a value between 0 (will not occur) and 1 (will occur). The higher the probability of an event, the more certain we are that the event will occur. A basic understanding of probability makes it possible to understand everything from batting averages to the weather report or your chances of being struck by lightning!Probability is an important topic in mathematics because the probability of certain events happening – or not happening – can be important to us in the real world.