Probability theory provides a structure or model of certain real world situations that provide very useful understanding and insight about making predictions.
Here we are talking about the Statistics
in mathematics. Statistics is the collection of several types of mathematical calculative tools to perform the calculation of logical abilities. Probability and Statistics
are two different terms. Statistics is the process of analyzing the fact and figures and generation of output. Statistical analysis includes Probability Distribution
. In probability and statistic we generally include the experimental part of the statistics subject. This subject asks to perform the repeated calculation of same thing again (like tossing a coin many times or selecting a card from the pack of playing cards). To remove the problem of repeated calculations, statistic and probability provide lot of formulas to perform the calculation in a simpler manner. These repeated calculations are generally done in probability.
We can understand the concept of probabilities and statistics with help of an example- Suppose we have a coin which has two faces head and tail, when we toss the coin then the result will either be head or tail but not both. The chances of getting head is 50% and chances of getting tail is also 50%, but what will be chances of getting head or tail when the coin is tossed 100 or 1000 times?, In this case we can predict the outcomes by using the concept of probability, in probability, we can predict the outcomes or results based on number of favorable outcomes and number of total outcomes.
The formula for finding the probability is: We can Calculate The Probability
by finding Ratio
of “number of favorable outcomes” and “total number of possible outcomes”. This can be written as: P = (r/n), where ‘r’ is number of favorable outcomes and ‘n’ is the number of possible outcomes.
Note that the value of probability lies between 0 and 1.
The concept of probability can be understood with the help of example given below.
Suppose we have a bag which contains 4 balls of different colors that are red, blue, green and white and we pick a ball from the bag then the probability of getting red, blue, green and white ball will be equals to ¼ or P ( color ) = r / n therefore P ( red ) = ¼, P( blue ) = ¼, P( green ) = ¼, P( white ) = ¼.
This is all about concept of statistics and probability.