From the course: Learning Data Science: Understanding the Basics
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Understand probability
From the course: Learning Data Science: Understanding the Basics
Understand probability
- Probability is another area in statistics which allows you to tell interesting stories. The probability is the likelihood that something will happen. It's a measurement of the possible outcomes. If you flip a coin, probability predicts whether or not it will come up on one side or the other. The statistics side of probability focuses on probability distribution. If you throw a six-sided die, that means that there are six possible outcomes. That means that the possibility of any number coming up is one in six. That means that each time you throw a die, you have a 17% chance of hitting a particular number. Probability can also show a sequence of events. What if you want to show the likelihood of hitting the same number twice in a row? Well, that's 17% of 17%, or roughly, 3%. If you're playing a game of dice, that's a pretty low probability. Your data science team will certainly want to work with probability. It's a key part of predictive analytics. It'll help you figure out the…
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