- #1
rhia
- 37
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Hi,
Please suggest me a good introductory book on probability.
Thanks!
Please suggest me a good introductory book on probability.
Thanks!
Last edited:
Probability is a measure of the likelihood of an event occurring. In other words, it is the chance or possibility of an outcome happening.
Studying probability allows us to make informed decisions and predictions based on the likelihood of certain outcomes. It is also crucial in fields such as statistics, finance, and science.
Probability is calculated by dividing the number of desired outcomes by the total number of possible outcomes. This can be represented as a fraction, decimal, or percentage.
Probability is used in various real-life scenarios, such as weather forecasting, sports betting, and risk management in finance. It is also utilized in medical research and decision-making processes.
While closely related, probability and statistics are not the same. Probability deals with predicting the likelihood of future events, while statistics involves analyzing and interpreting data from past events.