Understanding Probability
Probability theory is a branch of mathematics concerned with the analysis of random phenomena. The central objects of probability theory are probability distributions. Join us as we explore the fascinating world of chance and predictability!
Key Concepts
- Random Variables: Variables whose possible values are numerical outcomes of a random phenomenon.
- Distributions: Describes all the possible values and likelihoods that a random variable can take.
- Expected Value: The average of all possible values that can occur for a random variable.
- Variance: Measures the spread of a set of numbers.
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