Probability
Published on Nov 20, 2015
No Description
MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
PROBABILITY
Photo by Paul Cheek
WHAT IS PROBABILITY?
NUMERICAL MEASURE BETWEEN 0 & 1 THAT DESCRIBES THE LIKELIHOOD THAT AN EVENT WILL OCCUR
PROBABILITIES CLOSER TO 1 INDICATE THAT THE EVENT IS MORE LIKELY TO OCCUR.
PROBABILITIES CLOSER TO 0 INDICATE THAT THE EVENT IS LESS LIKELY TO OCCUR.
Photo by mag3737
PROBABILITY ASSIGNMENTS
INTUITION
IS PAST EXPERIENCE, JUDGEMENT, OR OPNION TO ESTIMATE THE LIKELIHOOD OF AN EVENT
RELATIVE FREQUENCY
EQUALLY LIKELY OUTCOMES
EXAMPLES
An example of Intuition is watching a track race and believing that the middle person has an 80% chance to win.
Photo by oscarandtara
Equally Likely Outcomes example is the probability of winning a game of tic-tac toe.
Number of favorable outcomes = 1
Total number of outcomes = 2
f/n = 1/2
Probability is 50%
A Relative Frequency examples is the probability of knowing someone with no phone in a sample of 50 people, being that 15 people don't have phones.
Number of favorable outcomes = 15
Total number of outcomes = 50
Real Life Examples :
People will try to use probability to figure out Vegas games
Used to give estimates of how well a business might succeed
Used in biology to predict genetic features
Photo by pigliapost
