What is probability | Expected Values, Frequency Distribution, Complement

👉🏻 Sign up for Our Complete Data Science Training with 57% OFF: bit.ly/2ZIUrvF
Learn how to calculate simple probabilities, compute expected values, find probability frequency distributions, and use complements.
► Consider hitting the SUBSCRIBE button if you LIKE the content: ruclips.net/user/365DataScie...
We ask ourselves questions like “What is the chance of success?” and “What is the probability that we fail?” to determine whether the risk is worth taking. Many CEOs need to make huge decisions when investing in their research and development departments or contemplating buyouts or mergers. By using probability and statistical data, they can predict how likely each outcome is and make the right call for their firm. Some of you might be wondering: “What is this probability we are talking about?”. Essentially, probability is the chance of something happening. A more academic definition for this would be “the likelihood of an event occurring”. The word event has a specific meaning when talking about probabilities. Simply put, an event is a specific outcome or a combination of several outcomes. These outcomes can be pretty much anything - getting Heads when flipping a coin, rolling a 4 on a six-sided die or running a mile in under 6 minutes.
► VISIT our website: bit.ly/365ds
🤝 Connect with us LinkedIn: / 365datascience
365 Data Science is an online educational career website that offers the incredible opportunity to find your way into the data science world no matter your previous knowledge and experience. We have prepared numerous courses that suit the needs of aspiring BI analysts, Data analysts and Data scientists.
We at 365 Data Science are committed educators who believe that curiosity should not be hindered by inability to access good learning resources. This is why we focus all our efforts on creating high-quality educational content which anyone can access online.
Check out our Data Science Career guides: • How to Become a... (Da...
#Add Hashtags here
#probability #frequency #distribution

[@365DataScience]

👉🏻 Sign up for Our Complete Data Science Training with 57% OFF: bit.ly/2ZIUrvF

[@Acadflix]

Amazing Explanation with exampless, Please start a series on Calculus for Machine Learning

[@DrStein-jq8yo]

thanks for your contrubution, great video.

[@Kaizokui]

Hello to every person reading this, for someone who has a better understanding of the topic than i do, at the 10:00 minute mark how does he arrive at P(A)= 0.5, P(B)= 0.4, P(C) = 0.1
Thank you in advance

[@christianjones9616]

I don't think he calculated these, they were just given. You could get these by doing an experiment and seeing how often the person hits the various areas.

[@ssoltani22]

That lady in the background is really putting in the work

[@avibhau3852]

8:28: What is theoretical probability? Isn't probability of outcome THEORETICAL only?

[@jigoj5547]

bro can you explain me in detail how you calculate probability of bow and arrow example???

[@timmcgrew515]

I think the idea is that the probabilities of your hitting the outer ring, middle ring, and bull's-eye are empirically determined. Those probabilities are then multiplied by the given point values for those outcomes -- values that have been set arbitrarily by whoever is doing the scoring -- to give you the expected value of a single shot.

[@queenj4732]

say in more basic terms

[@yuriripi]

15:05 why is he suddenly talking about "Spades"? i thought this was a dice problem

[@asrorbekomonullayev8012]

That is cool

[@AmitabhSuman]

12:41 : The formula seems wrong as for P(12) we see only 1 occurrence. So it should have been P(12).1 and not P(12).12 : Is that correct?

[@aryadubey6802]

I think we are performing numerical outcome here, which is A.P(A)+B.P(B)+C.P(C), here A,B,C are elements of our sample space, in case of die, it the sums, that's why we are doing P(12).12

[@anujonthemove]

For confusion at 12:40 one can refer to this video: ruclips.net/video/boxw_xwtrRc/видео.html

[@delick01]

For the bow and arrow. The expected value for a single shot. Wouldn't that be A=10, which has 50% probability ?

[@nicorobin7666]

Does Independence mean that they do not intersect?

[@arpitpachori3620]

It means that the change in value of one doesn't affect the other.

[@user-vz4bc2dr4e]

very difficult to understand

[@davethesid8960]

Probability 0 doesn't mean impossible.