Probability distribution

Discovery Science: Probability – Probability Theory

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Probability – Probability Theory Probability theory, the mathematical study of the estimated consequences of future events, is useful for predicting costs and planning complex processes when not all variables are available. If the consequences of a future event have to be estimated, probability theory is used to help make an informed decision. For example, a … Read more

Discovery Science: Mathematics – Statistics

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Mathematics – Probability As numbers themselves cannot lie, any harm or misunderstanding caused by numbers is the fault of the presenter or interpreter of the numbers. Probability theory and statistics help to describe events with numbers, allowing predictions and forecasts regarding the probability that certain events will occur to be made with a degree of … Read more