Introduction to Probability
In This Chapter
◆ Distinguish between classical, empirical, and subjective probability
◆ Use frequency distributions to calculate probability
◆ Examine the basic properties of probability
◆ Demonstrate the intersection and union of simple events using a Venn diagram
As we leave the happy world of descriptive statistics, you may feel like you’re ready to take on the challenge of inferential statistics. But before we enter that realm, we need to arm ourselves with probability theory. Accurately predicting the probability that an event will occur has widespread applications. For instance, the gaming industry uses probability theory to set odds for lotteries, card games, and sporting events. ...