What is probability | Expected Values, Frequency Distribution, Complement

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Learn how to calculate simple probabilities, compute expected values, find probability frequency distributions, and use complements.
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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.
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[@365DataScience]

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[@Acadflix]

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

[@DrStein-jq8yo]

thanks for your contrubution, great video.

[@ssoltani22]

That lady in the background is really putting in the work

[@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.

[@asrorbekomonullayev8012]

That is cool

[@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

[@avibhau3852]

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

[@anujonthemove]

For confusion at 12:40 one can refer to this video: czcams.com/video/boxw_xwtrRc/video.html

[@yuriripi]

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

[@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

[@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.