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Probability Assignment Help
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What Is Probability And Its Basic Rules?
Probability is a numerical description of how likely an event is to occur. Alternatively, it could be how likely it is that a proposition is true. It ranges from 0 to 1, where 0 is an impossibility, and 1 indicates certainty.
Otherwise, different books tend to have different definitions of probability, and this, therefore, poses a challenge to students, even making it hard for them to understand it. Our Probability Assignment Help comes in handy as it simplifies everything helping you understand the basic rules of probability. These rules are:
Classical (sometimes called “A priori” or “Theoretical”) – if we have a random process in which there are “n” equally likely outcomes, and the event A consists of exactly “m” of these outcomes, we say that the probability of A is m/n, which write as “P(A)=m/n” for short. This perspective has the advantage that it is conceptually simple in many situations. However, it is limited, since many situations do not have finitely many equally likely outcomes.
Empirical (sometimes called “A posteriori” or “Frequentist”) - This perspective defines probability via a thought experiment. The empirical view of probability applies to most statistical inference procedures. These are called frequentist statistics. The frequentist views what gives credibility to standard estimates based on sampling.
Subjective – is an individual’s measure of belief that an event will occur. This probability fits well with Bayesian statistics, which are an alternative to the more common frequentist statistical methods.
Axiomatic - is a unifying perspective. We can prove the coherence conditions needed for subjective probability hold for the classical and empirical definitions. The axiomatic perspective codifies these coherence conditions, so, we can use it with any of the above three perspectives.
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Types of Probability
- Classic probability-This often involves coin tossing or rolling dice. It is calculated by listing all of the possible outcomes of the activity and recording the actual occurrences.
- Experimental probability-It is based on the number of possible outcomes by the total number of trials.
- Theoretical probability-It is an approach that bases the possible probability on the possible chances of something happening.
- Subjective probability-It is based on a person’s own personal reasoning and judgement.It is the probability that the outcome a person is expecting will actually occur. There are no formal calculations or subjective probability but instead it is based on a person’s own knowledge and feelings.
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