Probability and likelihood
In everyday speech, statements such as “probably the train will be late” or “probably it will be foggy tomorrow” have the character of judgements. Formally, however (i.e., in the sense used throughout this book), probabilities do not refer to judgments, but to possible results (outcomes) of an experiment. These outcomes constitute the “sample space.” For example, attributing a probability of 0.6 to an event means that the event is expected to occur 60 times out of 100. This is the “frequentist” concept of probability, based on random choices from a defined population.
KeywordsSimple Event Sample Space Inverse Probability Scatter Matrix Compound Event
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