Showing posts tagged probability

Probability Primer

This post is a very brief introduction to some basic concepts in probability theory. We encounter uncertainty often in our everyday lives, for example, in the weather, games of chance (think of rolling dice or shuffling a deck of cards), financial markets, etc. Probability theory provides a language to quantify uncertainty, thereby allowing us to reason about future events whose outcomes are not yet known. In this note, we only consider events where the number of potential outcomes is finite. The basic object of study in probability is a probability…

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