| Popis: |
This chapter reviews basic notions of probability (or “stochastic variability”) which is the formal study of the laws of chance, i.e., where the ambiguity in outcome is inherent in the nature of the process itself. Both the primary views of probability, namely the frequentist (or classical) and the Bayesian, are covered, and some of the important probability distributions are presented. Finally, an effort is made to explain how probability is different from statistics, and to present different views of probability concepts such as absolute, relative and subjective probabilities. |
