Unit 2: Counting, Probability, and Probability Distributions
How likely is it that a certain event will occur? What are the chances that a given student will receive a grade of 60–69 on their exam? By studying distributions of data, you can determine the probability that a certain event will occur. By looking at the distribution of grades in a class, you can identify the probability that a student will receive between a 60 and 69. Probability is used in business to predicting profits, determine the chances that a business model will affect regulation, and in many other ways.
Before you can focus on probability, you must first learn how to count. What's that? You already know how to count? Maybe – but in this unit, you will learn how to count the different ways that multiple events can occur together. These are called combinations and permutations, and they are a fundamental concept of probability.
Completing this unit should take you approximately 12 hours.
2.2: Theories of Probability
2.3: Set Theory
2.4: Probability Fundamentals
2.5: Probability Distributions and the Binomial Distribution
Unit 2 Problem Set and Assessment