Probability and statistics play a significant role in analyzing data and making informed decisions. Whether predicting outcomes, interpreting data sets, or determining the likelihood of an event, these topics are integral to both academic and practical applications, especially in competitive exams like NIMCET.
There are three main types of probability:
This type of probability is based on the assumption that all outcomes are equally likely. For example, the probability of getting heads when flipping a fair coin is:
This probability is based on experiments or observations. For instance, if you roll a die 100 times and get a 4 in 20 of those rolls, the empirical probability of getting a 4 is:
Subjective probability is based on personal judgment or experience rather than objective calculation. For example, estimating the probability that your favorite sports team will win a game based on recent performances is a subjective probability.
Conditional probability is the probability of an event occurring given that another event has already occurred. The formula is:
This is particularly useful in scenarios where events are dependent on one another.
Bayes’ Theorem allows us to update the probability of an event based on new evidence. The formula is:
This theorem is extensively used in fields like machine learning and statistical inference.
Measures of central tendency describe the center of a data set, and include the mean, median, and mode.
The mean is the average of all data points:
The median is the middle value in an ordered data set.
The mode is the value that appears most frequently in the data set.
While measures of central tendency focus on the center of a dataset, measures of dispersion describe how spread out the data is. The most common measures include variance and standard deviation.
Variance measures the average squared deviations from the mean:
Standard deviation is the square root of the variance and gives a clearer understanding of data spread:
Probability distributions describe how probabilities are distributed over values of a random variable. Common distributions include:
This distribution applies when there are a fixed number of independent trials, each with two possible outcomes. The probability of getting exactly k successes in n trials is given by:
The normal distribution is a bell-shaped curve that is symmetric about the mean. It is characterized by its mean (μ) and standard deviation (σ).
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