STATS 10 Chapter 5: Chapter 5
Document Summary
With probability, we try to express how likely or unlikely an event is. We use probability to describe the chance of an uncertain event. The probability that a happens is pr(a) or p(a). In our course, we use the frequentist/classical view of probability (as opposed to the bayesian view of probability). Probability of an event is the long run relative frequency of the event. If i flip the coin 10 times, i could get 5 heads out of 10. Also possible relative frequency = 0. 3; i can also get 0. 6. In the long-run (approaching infinity), the relative frequency of heads/total flips will approach 0. 5. When we say pr(heads) = 0. 5, that means in the long-run, the relative frequency approaches 0. 5. Theoretic probability: the focus of our probability chapter. When we flip a coin, both sides are equally likely.
