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Statistics - Essay Example
Probability as a general concept can be defined as the chance of an event occurring. In addition to being used in games of chance, probability is used in different real life fields like insurance, investments, and weather forecasting, and in various areas.
According to basic probability we divide the figure of favourable outcomes by the total number of possible outcomes in our sample space. If we're observing for the chance it will rain, this will be the number of days in our record that it rained divided by the total number of similar days in our record. If our meteorologist has data for 100 days with similar weather conditions, and on 80 of these days it rained (a favourable outcome), the probability of rain on the next similar day is 80/100 or 80%.
In view of the fact that a 50% probability means that an experience is as likely to happen as not, 80%, which is greater than 50%, means that it is more likely to rain than not. But what is the probability that it won't rain Keep in mind that because the favourable outcomes represent all the possible ways that an event can occur, the sum of the different probabilities must equal 1 or 100%, so 100% - 80% = 20%, and the probability that it won't rain is 20%.
The following scatter plot with a fitted line shows that there is a positive relationship b/w selected 15 student's maths and science scores. ...