It is used in practical problems, viz. The formula of computing such probability is as follows:. For example, if the total number of persons insured at the age of 20 Years is and the number of such persons dying was found to be , the empirical probability of the death is given by. It is to be noted that when the number of observations is very large, the empirical probability of an event is taken as the relative frequency of its occurrence, and that such probability is equal to the prior probability.
A probability which is calculated on the basis of some historical data, common experience, recorded evidence, or rigorous analysis is called objective probability. Probabilities of various events in rolling of dice, or flipping of coins are examples of objectives probability in as much as they are based on dependable evidences. A probability which is calculated on the basis of personal experience or opinion is called a subjective probability.
Probabilities of earning super profits for 10 years are the examples of subjective probability in as much as such probabilities are calculated purely on the basis of personal opinion of some experts. The probability of a dependent event is called a conditional probability. If there are two dependent events, say A and B the conditional probability. If there are two dependent events, say A and B the conditional probability of A given that B has happened is given by ;.
And the conditional probability of B given that A has happened is given by. Which represents that the probability of A, B and C is equal to the probability of A times the probability of B given that A has happened, B times the probability of C given that both A and B have happened. It is to be noted that where conditional probability is attached to the two independent events say A and B, the conditional probabilities of A and B will be represented thus:.
The product of a prior probability and a conditional probability is the joint probability of any two dependent or independent events. We try to create enjoyable cooperation in order to keep our clients in a good mood and give them help according to all international standards.
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Moreover, we will be on the cloud nine if our service helps you to achieve your goal and succeed in your studies. Statistics homework help will be present on the higher degree. Address our team and you will content. Statistics is a branch of mathematic that deals with collecting and analyzing data. Specific statistical methods have helped the civilization to identify, study, and solve a variety of problems. Statistics help people make effective decisions in uncertain situations.
Probability is used to illustrate events that do not take place with certainty. Statistics reveals the concepts of association between two variables, probability, random sampling, and estimation. People in various occupations tend to apply statistics. Health specialists use statistical methods to resolve whether a particular drug or procedure is useful in the treatment of medical issues. Weather forecasters use statistics to more precisely predict the weather.
Engineers use statistics to scale standards for product safety, security and quality. Scientists employ statistical methods to conduct efficient experiments.
probability and statistics homework includes various concepts such as the concepts of association between two variables, probability, random sampling, and estimation. Statistics is a branch of mathematic that deals with collecting and analyzing data.
Probability refers to ‘an event’ the happing and non-happening of which is uncertain, or contingent. Literally, it means a chance, a possibility, likelihood, or an odd. We provide probability homework help.
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It follows that they should seek for statistics and probability homework help, because seeking help could benefit them greatly. Critical to the discussion is the reality that such help could be obtained from statistics and probability . Types of probability are prior probability, empirical probability, objective probability, subjective probability, conditional probability, joint probability and more. We offer types of probability homework help.