Basics of Probability
Explore the basics of probability to understand how likely events are to occur, which helps in making informed decisions under uncertainty. This lesson covers key probability concepts such as independent and dependent events, mutually exclusive and inclusive events, and conditional probability to build a strong foundation for statistical analysis in data science.
For anyone taking their first steps in data science, probability is a must-know concept. In this lesson, we will learn this important piece of the puzzle by going through each concept in a simple way.
What Is Probability?
Probability is the numerical chance that something will happen; it tells us how likely it is that some event will occur.
Probability is one of those intuitive concepts that we use on a daily basis, without necessarily realizing that we are talking probability. Our lives are full of uncertainties; unless someone has superpowers to foresee the future, we don’t ...