Probability and statistics are related fields but serve different purposes in the realm of data analysis and decision-making.
I. Probability:
1. Definition:
- Probability deals with the likelihood of events occurring in a well-defined set of outcomes.
- It provides a theoretical foundation for dealing with uncertainty.
2. Focus:
- Focuses on predicting the likelihood of future events based on a model or set of assumptions.
3. Representations:
- Usually expressed as a number between 0 and 1, where 0 indicates an impossible event, and 1 indicates a certain event.
4. Applications:
- Commonly used in gambling, weather forecasting, risk assessment, and various branches of science and engineering.
5. Example:
- Rolling a fair six-sided die has a probability of 1/6 for each face.
II. Statistics:
1. Definition:
- Statistics involves the collection, analysis, interpretation, presentation, and organization of data.
