April 2019
Beginner to intermediate
1240 pages
45h 43m
English
Content preview from Data Science for Business and Decision Making
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Chapter 5
Introduction to Probability
Abstract
This chapter explains the differences between probabilistic statistics and descriptive statistics, showing in which situations the probability theory must be used. The concepts and terminologies related to probabilistic statistics are presented here, as well as their practical application. By using the probability theory, it is possible to predict the occurrence of one or more events. This chapter also shows how combinatorial analysis can be used to calculate probabilities.
Keywords
Probability theory; Events; Conditional probability; Bayes' theorem; Combinatorial analysis
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