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Here’s the list with short answers for each question:
I. Probability and Descriptive Statistics:
1. What is the difference between probability and statistics?
- Probability deals with predicting future events, while statistics involves analyzing past events.
2. Explain the concept of conditional probability.
- Conditional probability is the probability of an event occurring given that another event has already occurred.
3. Define random variables and probability distributions.
- Random variables represent outcomes of a random phenomenon, and probability distributions describe how probabilities are assigned to these outcomes.
4. What is the Central Limit Theorem, and why is it important?
- The Central Limit Theorem states that the distribution of the sample mean approaches a normal distribution as the sample size increases, enabling robust statistical inference.
